Problem $16-6$A

Indirect: Statement of cash flows

P$2$ P$3$

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, and $(5)$ any change in Income Taxes Payable reflects the accrual and cash payment of taxes.

Required

Prepare a complete statement of cash flows using the indirect method for the current year.

Check Cash from operating activities, $$122,000$