com/flow/connect.html Graded Problems Required information Golden Corp., a merch

Question

com/flow/connect.html Graded Problems Required information Golden Corp., a merchandiser, recently completed its 2017 operations. 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) al 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 201 Assets s 164,000 $107,000 83,000 71,000 601,000 526,000 48,000 704,000 335,000 299,000 (158 000) (104,000) $1,025000 5 899000 Accounts receivable Inventory Total current assets Eauiomede reciation Eqiement Total assets Liabilities and Equity ..nn..nie nas.shla Prey 1 of 1 Next arch

Explanation / Answer

Statement of cash flow :

Cash flow from operating activities Net income 136000 Adjustment to reconcile net income Depreciation expenses 54000 Increase account receivable (12000) Increase inventory (75000) Increase account payable 16000 Increase income tax payable 3000 Net cash flow from operating activities 122000 Cash flow from investing activities Purchase of equipment (36000) Net cash flow from investing activities (36000) Cash flow financing activities Issue of common stock 60000 Net cash flow from financing activities (89000) (29000) Net cash flow 57000 Beginning cash 107000 Ending cash 164000

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