Answer:
Please see the solution below:
Explanation:
GOLDEN CORPORATION
Statement of Cash Flow
As of December 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES $
Net Income 166,400
<em>Adjustments to reconcile net income to
</em>
<em>net cash provided by operating activities:</em>
Depreciation on Fixed Assets 54,000
<em>(Increase) Decrease in Current Assets:</em>
Accounts Receivables (21,500)
Inventory (84,500)
<em>Increase (Decrease) in Current Assets:</em>
Accounts Payable 35,000
Income Tax Payable <u> 12,400 </u>
NET CASH PROVIDED BY OPERATING ACTIVITIES <u>161,800</u>
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of Equipment <u>(68,200)</u>
NET CASH USED IN INVESTING ACTIVITIES <u>(68,200)</u><u>
</u>
CASH FLOWS FROM FINANCING ACTIVITIES
Payment of Cash Dividends (108,000)
Issuance of Common Stock <u> 69,500</u>
NET CASH PROVIDED (USED) IN FINANCING ACTIVITIES <u> (38,500)</u><u>
</u>
NET INCREASE (DECREASE) IN CASH 55,100
Cash Balance, December 31 2016 127,900
Cash Balance, December 31 2017 183,000
