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

hongaus. $146.22 Golden Corp.'s current year i follow. For the year, (1) all sales receipts from customers, (3) all reflect cash payments for inve rrent-year income statement, comparative balance sheets, and additional information ar (1) all sales are credit sales, (2) all credits to Accounts Receivable reflect cash omers, (3) all purchases of inventory are on credit, (4) all debits to Accounts Payable yments for inventory, (5) Other Expenses are all cash expenses, and (6) any change in Taxes Payable reflects the accrual and cash payment of taxes. Problem 16-6A Indirect: Statement of cash flows P2 P3 GOLDEN CORPORATION Comparative Balance Sheets GOLDEN CORPORATION Income Statement For Current Year Ended December 31 Current Year Prior Year $1,792,000 1,086,000 706.000 $ 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 Sales ....... Cost of goods sold ... Gross profit. Operating expenses Depreciation expense.... Other expenses ......... Income before taxes.. Income taxes expense. Net income S 54,000 494,000 548,000 158,000 22,000 $ 136.000 At December 31 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 F Common stock, $2 par value ....... Paid in capital in excess of par value, common stock.... Retained earnings ..... Total liabilities and equity.......... $ 87,000 28,000 115.000 $ 71,000 25,000 96.000 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 F share. c. Declared and paid $89.000 in cash dividends. F 592,000 568,000 196,000 122.000 $1,025,000 160,000 75,000 $899,000