useless to answer for me. times passed when I needed it. no clue why I pay for this service if I can't get my shid answered in a timely manner. had to post the same question twice also and neither was answered.

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. GOLDEN CORPORATION Comparative Balance Sheets December 31 Current Year Prior Year Assets Cash $ 125,700 Accounts receivable. $ 181,000 108,500 626,500 88,000 543,000 Inventory Total current assets. 916,000 756,700 Equipment 316,000 Accumulated depreciation-Equipment 380,800 (166,500) (112,500) Total assets. $ 1,130,300 $ 960,200 Liabilities and Equity. Accounts payable $ 88,000 Income taxes payable $ 121,000 45,000 166,000 33,600 121,600 Total current liabilities Equity 612,400 585,000 Common stock, $2 par value Paid-in capital in excess of Retained earnings 226,600 185,500 68, 100 125,300 Total liabilities and equity $ 1,130,300 $ 960,200 Sales. Cost of goods sold Gross profit Operating expenses (excluding depreciation) Depreciation expense Income before taxes Income taxes expense Net income Additional Information on Current Year Transactions a. Purchased equipment for $64,800 cash. b. Issued 13,700 shares of common stock for $5 cash per share. c. Declared and paid $106,000 in cash dividends. value, common stock GOLDEN CORPORATION Income Statement For Current Year Ended December 31 $ 1,877,000 1,103,000 774,000 511,000 54,000 209,000 45,800 $ 163,200 Prev 1 of 41 # Next > Problem 12-6A (Algo) Indirect: Statement of cash flows LO P2, P3 Required: Prepare a complete statement of cash flows using the indirect method for the current year. (Amounts to be deducted should be indicated with a minus sign.) GOLDEN CORPORATION Statement of Cash Flows For Current Year Ended December 31 Cash flows from operating activities Adjustments to reconcile net income to net cash provided by operations: Income statement items not affecting cash Changes in current assets and current liabilities Cash flows from investing activities Cash flows from financing activities: Net increase (decrease) in cash Cash balance at December 31, prior year Cash balance at December 31, current year Next >