ControlUse the following information for the Problems below. Golden Corp., a merchandiser, recently completed its $2017$ 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$$s balance sheets and income statement follow. GOLDEN CORPORATION Comparative Balance Sheets December $31,2017$ and $201620172016$ Assets Cash $ $170,000$ $ $113,600$ Accounts receivable $92,00077,000$ Inventory $610,000532,000$ Total current assets $872,000722,600$ Equipment $351,100305,000$ Accum. depreciation$$Equipment $(161,000)(107,000)$ Total assets $ $1,062,100$ $ $920,600$ Liabilities and Equity Accounts payable $ $99,000$ $ $77,000$ Income taxes payable $34,00028,100$ Total current liabilities $133,000105,100$ Equity Common stock, $$2$ par value $604,000574,000$ Paid$-$in capital in excess of par value, common stock $202,000169,000$ Retained earnings $123,10072,500$ Total liabilities and equity $ $1,062,100$ $ $920,600$ GOLDEN CORPORATION Income Statement For Year Ended December $31,2017$ Sales $ $1,822,000$ Cost of goods sold $1,092,000$ Gross profit $730,000$ Operating expenses Depreciation expense $ $54,000$ Other expenses $500,000554,000$ Income before taxes $176,000$ Income taxes expense $30,400$ Net income $ $145,600$ Problem $16-6$A Indirect: Statement of cash flows LO P$1,$ P$2,$ P$3$ Additional Information on Year $2017$ Transactions Purchased equipment for $$46,100$ cash. Issued $12,600$ shares of common stock for $$5$ cash per share. Declared and paid $$95,000$ in cash dividends. Required$1$: Prepare a complete statement of cash flows; report its cash inflows and cash outflows from operating activities according to the indirect method. $($Amounts to be deducted should be indicated with a minus sign.$)$

Required$2$: prepare a complete statement of cash flows using a spreadsheet under the indirect method

Required$3$: prepare a complete statement of cash flows using the direct method for the current year