Required information

Use the following information for the Problems below. $($Algo$)$

$[$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.

Additional Information on Current Year Transactions

a$.$ Purchased equipment for $$47,800$ cash.

b$.$ Issued $12,700$ shares of common stock for $$5$ cash per share.

c$.$ Declared and paid $$96,000$ in cash dividends.

Problem $16-6$A $($Algo$)$ Indirect: Statement of cash flows LO P$2,$ P$3$

Assessment Tool iFrame

PTepare 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.