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$[$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 payment

for inventory, and $(5)$ any change in Income Taxes Payable reflects the accrual and cash payment of taxes.

Additional Information on Current Year Transections

a$.$ Purchased equipment for $$37,600$cash.

b$.$ Issued $12,100$ shares of common stock for $$5$ cash per share.

c$.$ Declared and paid $$90,000$ in cash dividends.

Requlred:

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

Note: Amounts to be deducted should be Indlcated with a minus sign.

GOLDEN CORPORATION

Statement of Cash Flows

For Current Year Ended December $31$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.

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