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) 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 statements follow. Comparative Balance Sheets, December 31, 2017 and 2016

2017 2016
Assets
Cash $184,000 $129,000
Accounts receivable 113,000 91,000
Inventory 631,000 546,000
Total current assets 928,000 766,000
Equipment 388,900 319,0000
Accum. Depreciation-Equipment (168,000) (114,000)
Total assets $1,148,900 $971,000
Liabilities and Equity
Accounts payable $127,000 $91,000
Income taxes payable 48,000 35,100
Total current liabilities 175,000 126,100
Equity
Common stock, $2 par value 632,000 588,000
Paid-in capital in excess of par value, common stock 216,000 190,000
Retained earnings 125,900 66,900
Total liabilities and equity $1,148,900 $971,000

For Year Ended December 31, 2017

Sales $1,892,000
Cost of goods sold 1,106,000
Gross profit 786,000
Operating expenses
Depreciation expense $54,000
Other expenses 514,000 568,000
Income before taxes 218,000
Income taxes expense 50,000
Net income $168,000

Additional Information on the Year 2017 Transactions:
a. Purchased equipment for $69,900 cash.
b. Issued 14,000 shares of common stock for $5 cash per share.
c. Declared and paid $109,000 in cash dividends.

Required:
Prepare a complete statement of cash flows; report its cash inflows and cash outflows from operating activities according to the indirect method.