Question

Required information The following information applies to the questions displayed below.] Golden Corp., a merchandiser, recently completed its 2017 operations. For the year, () 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, (5) Other Expenses are all cash expenses, and (6) any change in Income Taxes Payable reflects the accrual and cash payment of taxes. The company's balance sheets and income statement follow GOLDEN CORPORATION Comparative Balance Sheets December 31, 2017 and 2016 2017 2016 Assets Cash Accounts receivable Inventory Total current assets Equipment Accum. depreciation-Equipment 175,eee 99,5ee 617,see 892,ee0 364,600 (163,see) $1,093,10e $ 119,100 82,eee 537,000 738,100 310,000 (109,see) Total assets $ 938,600 Liabilities and Equity ACCounts payable Income taxes payable Total current liabilities $ 109,000 39,ee0 148,e00 $ 82,000 30,600 112,6e0 Equity Common stock, $2 par value Paid-in capital in excess of par value, common stock Retained earnings 614,e00 207,ee0 124,100 $1,093,100 579,e00 176, see 70, see 938,600 Total liabilities and equity $ GOLDEN CORPORATION Income Statement

Answer 1

GOLDEN CORPORATION
Statement of Cash flows
For Year Ended December 31,2017
Cash Flows from operating Activities
Net Income	153,600.00
Adjustments to reconcile net income to net cash Provided by Operations
Accounts Receivable Increase	-   17,500.00
Inventory Increase	-   80,500.00
Accounts Payable Increase	27,000.00
Income taxes Payable increase	8,400.00
Depreciation Expense	54,000.00
Net Cash Provided by Operating Activities		145,000.00
Cash flow from Investing Activities
Cash Paid for Equipment	-   54,600.00
Net Cash Used in Investing Activities		-   54,600.00
Cash flows from financing Activities
Cash received from Stock Issuance	65,500.00
Cash Paid for Cash dividends	- 100,000.00
Net Cash Used in Financing Activities		-   34,500.00
Net Increase (Decrease) in Cash		55,900.00
Cash Balance at Beginning of Year		119,100.00
Cash Balance at End of Year		175,000.00