Refer to the information reported about Golden Corporation 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 using a spreadsheet as in Exhibit 16A.1; report operating activities under the indirect method. Identify the debits and credits in the Analysis of Changes columns with letters that correspond to the following list of transactions and events.
a. Net income was $ 136,000.
b. Accounts receivableincreased.

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GOLDEN CORPORATION Comparative Balance Sheets December 31,2013 and 2012 2013 OTS2012 Assets .164,000 Accounts receivable Merchandise inventory quipment. .. Accum. depreciation Equipment(58.000) (104,000) Total assets .. Liabilities and Equity 83,000 71,000 601,000 526,000 335.000 299,000 GOLDEN CORPORATION Income Statement ForYear Ended December 31,2013 $1792.000 1,086,000 706,000 Cost of goods sold... 87000 7000 Gross profit... 28,000 2500 Operating expenses 592,000 568,000 Depreciation expense Income taxes payable 54,000 . . . . Paid-in capital in excess Retained earnings..2 Total liabilities and equity $1.025,000 $899,000 Net income .. 196,000 60,000 ncome before taxes 122.00075,000 Income taxes expense 158,000 22,000 $136,000