Required information Use the following information for the Problems below. [The following information applies to the questions displayed below) 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 December 31 Current Year Prior Year Assets Cash Accounts receivable Inventory Total current assets Equipment Accun depreciation Equipent Total assets $164,000 83,000 601,000 848,000 335,000 (158,000) $1,025,000 $107.000 71,000 526,000 784,000 299,000 (100,000) $ 899,000 $ 87,000 20,000 115,000 $ 71,000 25,000 96,000 Liabilities and Equity Accounts payable Income taxes payable Total current liabilities Equity Con stock 52 par value Paldin Capital in excess of par value, comon stock Retained earnings Total abilities and equity 592,000 196,000 122,000 $1,025,000 568,000 160,000 75,000 $ 899,00 GOLDEN CORPORATION Income Statement For Current Year Ended December 31 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 $1,792,000 1,886,000 706,000 548,000 158,000 22,000 $ 136,000 Additional Information on Current Year Transactions o. 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 Problem 16-7AA Indirect: Cash flows spreadsheet LO P4 Required: Prepare a complete statement of cash flows using a spreadsheet under the direct method (Enter all amounts as positi GOLDEN CORPORATION Spreadsheet for Statement of Cash Flows For Current Year Ended December 31 Analysis of Changes December 31, Price Year Debit Credit Balance sheetdebit balance accounts December 31 Current Year Prey 2 of 15 Next > nere to search o BE 10 Required information 2 Required: Prepare a complete statement of cash flows using a spreadsheet under the indirect method. (Enter all amounts as positive values.) GOLDEN CORPORATION +2012 Spreadsheet for State fiert of Cash Flows For Current Year Ended December 31 Analysis of Changes nts December 31, Prior Year Debit Credit December 31 Current Year Balance sheetdebit balance accounts Cash $ S 184,000 107.000 71.000 Accounts receivable Inventory 626 000 Equipment 200.000 1.000.000 S $ 184,000 $ 104.000 71,000 Balance sheet balance accounts Acumulated deprecument Accounts payable Income pavati Common stock par value Padan cialis of Value Most Rating 25,000 500.000 100.000 75,000 1.000.000 Start of cash flow Opergi Investing is Eng av