CH Required: Prepare a complete statement of cash flows using the direct method for the current year. (Amounts to be deducted should indicated with a minus sign.) GOLDEN CORPORATION Statement of Cash Flows For Current Year Ended December 31 Cash flows from operating activities $ 0 Net cash provided by operating activities Cash flows from investing activities Cash paid for equipment (36,000) (36,000) Net cash used in investing activities Cash flows from financing activities Cash received from issuing stock Cash paid for dividends 60,000 (89,000) December 31 Current Year Prior Year $ 164,000 83,eee 601,000 848, eee 335, eee (158, eee) $1,025, eee $ 107,eee 71, eee 526, 784, eee 299,000 (184,000) $ 899,000 Assets Cash Accounts receivable Inventory Total current assets Equipment Accum. depreciation-Equipment Total assets Liabilities and Equity Accounts payable Income taxes payable Total current liabilities Equity Common stock, $2 par value Paid-in capital in excess of par value, common stock Retained earnings Total liabilities and equity $ 87, eee 28,eee 115,000 $ 71, eee 25, eee 96, 592, 196 , 122, $1,025,000 568 , 160, eee 75, $ 899, eee $1,792,000 1,886,000 76 , GOLDEN CORPORATION Income Statement For Current Year Ended December 31 Sales Cost of goods sold Gross profit Operating expenses Depreciation expense $ 54, eee Other expenses 494, eee Income before taxes Income taxes expense 548, eee 158, eee 22,800