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Required information [The following information applies to the questions displayed below.] Golden Corporation'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, and (5) any change in Income Taxes Payable reflects the accrual and cash payment of taxes. Assets Cash Accounts receivable Inventory Total current assets Equipment Accumulated 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 $173,000$116,900 96,50080,000 \begin{tabular}{rr} 614,500 & 535,000 \\ \hline 884,000 & 731,900 \end{tabular} \begin{tabular}{rr} 359,200 & 308,000 \\ (162,500) & (108,500) \\ \hline$1,080,700 & $931,400 \\ \hline \hline \end{tabular} \begin{tabular}{rr} $105,000 & $80,000 \\ 37,000 & 29,600 \\ \hline 142,000 & 109,600 \end{tabular} \begin{tabular}{rr} 602,800 & 577,000 \\ 212,200 & 173,500 \\ 123,700 & 71,300 \\ \hline$1,080,700 & $931,400 \\ \hline \hline \end{tabular} GOLDEN CORPORATION Income Statement For Current Year Ended December 31 Sales $1,837,000 cost of goods sold 1,095,000 Prev 12 of 12 Next Retained earnings Total liabilities and equity Additional Information on Current Year Transactions a. Purchased equipment for $51,200 cash. b. Issued 12,900 shares of common stock for $5 cash per share. c. Declared and paid $98,000 in cash dividends. Additional Information on Current Year Transactions a. Purchased equipment for $51,200 cash. b. Issued 12,900 shares of common stock for $5 cash per share. c. Declared and paid $98,000 in cash dividends. Required: Prepare a complete statement of cash flows using the indirect method for the current year. Note: Amounts to be deducted should be indicated with a minus sign. Required information Required information (1) Required information