- L M N o P o R K Problem 16-6A A B C D E G H 1 Chapter 16 Graded Assignment 2 3 4 Company Name 5 Statement of Cash Flows 6 For Year Ended December, 31, 2019 7 . Cash flows from operating activities . Net Income 10 Adjustments to reconcile net income to net 11 cash provided by operating activities Income statement items not affecting cash 13 14 15 18 Changes in current assets and current liabilities 18 19 21 23 24 Net Cash provided by operating activities a Cash flows from investing activities 20 31 Net cash from investing activities Cash flows from financing activities 34 Net cash used in financing activities 3 Net increase in cash 30 40 Cash balance at December 31, 2018 41 Cash balance at December 31, 2019 Problem 16-6A + Ready Problem 16-6A Indirect: Statement of cash flows @P2 P3 Golden Corp.'s current-year income statement, comparative balance sheets, and additional information follow. 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. GOLDEN CORPORATION Comparative Balance Sheets At December 31 Current Year Prior Year Assets Cash $164,000 $107.000 Accounts receivable 83.000 71,000 Inventory 601.000 526.000 Total current assets 848,000 704,000 Equipment 335.000 299.000 Accum. depreciation --Equipment (18.000 (104,000) To Questions GOLDEN CORPORATION Comparative Balance Sheets At December 31 Current Year Prior Year 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 $ 164,000 83,000 601,000 848,000 335.000 (158,000) $1,025,000 $107.000 71,000 526,000 704,000 299,000 (104,000) $899,000 $ 87,000 28,000 $ 71,000 25.000 96,000 115,000 592.000 568,000 Questions (158,000) $1,025.000 (104,000 $899.000 $ 87,000 28,000 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 $ 71,000 25,000 96,000 115,000 592,000 568,000 160,000 196,000 122,000 $1,025,000 75,000 $899,000 GOLDEN CORPORATION Income Statement For Current Year Ended December 31 Sales net of endle cold $1,792,000 1 Aho estions al Retained earnings Total liabilities and equity 122,000 $1,025,000 75,000 $899.000 GOLDEN CORPORATION Income Statement For Current Year Ended December 31 $1,792,000 1,086,000 706,000 Sales Cost of goods sold Gross profit Operating expenses Depreciation expense $ 54.000 Other expenses 494,000 Income before taxes Income taxes expense Net income 548,000 158,000 22,000 $ 130,000 innalin ma 1 perang tapu Depreciation expense $ 54,000 Other expenses 494,000 Income before taxes 548,000 158,000 Income taxes expense 22,000 $ 136,000 Net income Additional Information on Current-Year Transactions a. Purchased equipment for $36,000 cash. b. Issued 12,000 shares of common stock for $5 cash per share. c. Declared and paid $89,000 in cash dividends. Required Prepare a complete statement of cash flows using the indirect method for the current year. Check Cash from operating activities. $122.000