they didn't answer correct first time

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. GOLDEN CORPORATION Comparative Balance Sheets December 11 Cuncent Year Prige Year Assets Cash Accounts receivable $ 167,000 87,500 605,500 $ 110,300 74,000 Inventory 529,000 Total current assets 860,00 713,300 Equipment 343,00 302.000 Accumulated depreciation-Equipment (159,500 (105,500) Total assets $1.043,500 $ 900,000 Liabilities and Equity Accounts payable $93,000 $74,000 26,600 Income taxes payable 31,000 Total current liabilities 124,000 100,600 Equity Common stock, $2 par value 595,600 571,000 201,400 164,500 Paid-in capital in excess of par value, common stock Retained earnings 122,500 73,700 Total liabilities and equity $1,043,500 $909,800 GOLDEN CORPORATION Income Statement For Current Year Ended December 31 Sales Cost of goods sold Gross profit Operating expenses (excluding depreciation) Depreciation expense Income before taxes i Income taxes expense Net Incone Additional Information on Current Year Transactions a. Purchased equipment for $41,000 cash b. Issued 12,300 shares of common stock for $5 cash per share. c. Declared and paid $92,000 in cash dividends. $ 1,807,000 1,089,000 718,000 497,000 54,000 167,000 26,200 $ 140,000 Required: Prepare a complete statement of cash flows using the direct method for the current year. (Amounts to be deducted should be indicated with a minus sign.) Answer is complete but not entirely correct. GOLDEN CORPORATION Statement of Cash Flows For Current Year Ended December 31 Cash flows from operating activities Net income XS 0X 0X Increase in accounts receivable Increase in accounts receivable 0X Increase in accounts payable Increase in income taxes payable Net cash provided by operating activities Cash flows from investing activities Cash paid for equipment Net cash used in investing activities Cash flows from financing activities Cash received from issuing stock Cash paid for dividends Net cash used in financing activities Net increase (decrease) in cash Cash balance at December 31, prior year Cash balance at December 31, current year ****** (13,500) 19,000 (41,000) 61.500 (92,000) > 3 G 00 > 00 03 5.500 (41,000) (30,500) $(66,000) 110,300 $ 44.300 $