GOLDEN CORPORATION Comparative Balance Sheets December 31, 2016 and 2015 2016 20

Question

GOLDEN CORPORATION Comparative Balance Sheets December 31, 2016 and 2015 2016 2015 Assets Cash Accounts receivable Inventory Total current assets Equipment Accum. depreciation-Equipment Total assets $209,000 $150,000 76,000 538,000 764,000 323,000 177,000)(116,000 $1,110,000 $ 971,000 89,000 625,000 923,000 364,000 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, common stock Retained earnings Total liabilities and equity $ 91,000$ 83,000 37,000 120,000 46,000 137,000 614,000 592,000 172,000 87,000 $1,110,000$ 971,000 205,000 154,000

Explanation / Answer

Statement of cash flow

Cash flow from operating activities Net income 163000 Adjustment to reconcile net income Depreciation exp 61000 Increase account receivable (13000) Increase inventory (87000) Increase account payable 8000 Increase income tax payable 9000 Net cash flow from operating activities 141000 Cash flow from investing activities Bought equipment (41000) Net cash flow from investing activities (41000) Cash flow from financing activities Dividend paid (96000) Issue common stock 55000 Net cash flow from financing activities (41000) Net cash flow 59000 Beginning cash 150000 Ending cash 209000

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