Question

Refer to Golden Corporation’s financial statements and related information in Problem 16- 4A.
In Problem 16- 4A, Golden Corp., a merchandiser, recently completed its 2013 operations. For the year, (1) all sales are credit sales, (2) all credits to Accounts Receivable reflect cash receipts from customers, (3) all purchases of inventory are on credit, (4) all debits to Accounts Payable reflect cash payments for inventory, (5) Other Expenses are all cash expenses, and (6) any change in Income Taxes Payable reflects the accrual and cash payment of taxes. The company’s balance sheets and income statement follow.



Required
Prepare a complete statement of cash flows; report its cash flows from operating activities according to the directmethod.


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  • CreatedNovember 26, 2013
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