Question

2 of 2 Required information (The following information applies to the questions displayed below) Golden Corp.'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. (5) Other Expenses are all cash expenses, and (6) any change in Income Taxes Payable reflects the accrual and cash payment of taxes, 5 eBook Print GOLDEN CORPORATION Comparative Balance Sheets December 31 erences Current Year Prior Year $ 181.000 108,500 626,500 916,000 380.800 (1 66,500 $1. 130.300 $ 125, 700 88.000 543.000 756.700 316.000 (112.500 $ 960.200 Assets Cash Accounts receivable Inventory Total current assets Equipient Accum. depreciation Equipment Total assets Liabilities and Equity Accounts payable Income taxes payable Total current liabilities Equity Common stock, $2 par value Paid-in capital in excess of par value, com non stock Retained earnings Total liabilities and equity $ 121.000 45.000 166.000 $ 88.000 33.600 121.600 612.400 226.600 125.300 $1.130.300 585.000 185.500 68. TOO $ 960.2001 GOLDEN CORPORATION Inno toront < Prey on 8 of 5 Next 1 RL R....docx wa MUSC 311 RL R....docx MUSC314 FINAL....docx A W MUSC 311 RL R....docx MUSC 311 RL R....docx

Answer 1

	Golden Corporation
	Cash flow Statement
	for the Period ended Dec 31.
	Cash Flows from Operating Activities	Amt $'000	Amt $'000
	Net Income		$                             163,200
	Add /(Subtract) items that affect net Income and cash flow differently
Add	Depreciation Expense	$                         54,000
Less	Increase in Accounts Receivable	$                        (20,500)
Less	Increase in Inventory	$                        (83,500)
Add	Increase in Accounts Payable	$                         33,000
Add	Increase in Income Tax payable	$                         11,400
	Total	$                          (5,600)	$                                (5,600)
a.	Total Cash flow from Operating Activities		$                             157,600
	Cash flow from Investing Activities
	Acquisition of Equipment( Change in Gross Fixed assets)	$                        (64,800)
b.	Net Cash outflow from Investing Activities	$                        (64,800)	$                              (64,800)
	Cash flow from Financing Activities
	Issue of Common shares (13700 shares @$5 each)	$                         68,500
	Payment of Cash dividend	$                     (106,000)
c	Net Cash inflow from Financing Activities	$                        (37,500)	$                              (37,500)
d	Net Increase/(Decrease) in Cash & Cash Equivalents=a+b+c		$                                55,300
e	Cash and Cash Equivalent Balance Jan 1, Current year		$                             125,700
f	Cash and Cash Equivalent Balance Dec 31, Current Year=e+d		$                             181,000