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Required information [The foilawing informatian applies to the questions displaynd below.] Golden Corporation's...

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Accounting

Required information
[The foilawing informatian applies to the questions displaynd below.]
Golden Corporation's current year income statement, comparative balance sheets, and additional information follow. For
the year,
[1] all sales ane credit sales.
(2) all credits to Accounts fieceivable reflect cash receipts from custamers,
(3) all purcheses of inventory are on eredit,
(4) all debits to Accounts Payable reflect cash payments for imventory, and
(5) any change in Income Tawes Payable reflects the accrual and cash payment of tawes.
Additional Information on Current Year Transactions
a. Purchased equipment for $47,800cash.
b. Issued 12,700 shares of common stock for $5 cash per share
c. Declared and paid $96,000 in cash dividerds.
Required:
Prepare a complete statement of cash flows using the direct method for the current year.
Note: Amounts to be deducted should be indicated with a minus sign.
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