art 1 of 2 ints Skipped Required information [The following information applies to the questions displayed below] Golden Corporation'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, and (5) any change in Income Taxes Payable reflects the accrual and cash payment of taxes. eBook Print eferences Assets Cash Accounts receivable Inventory Total current assets Equipment Accumulated depreciation-Equipment Total assets Liabilities and Equity Accounts payable Income taxes payable Total current liabilities Equity Common stock, $2 par value 534,000 GOLDEN CORPORATION Comparative Balance Sheets December 31 Current Year Prior Year $ 172,000 95,000 $ 115,800 79,000 613,000 880,000 356,500 (162,000) $ 1,074,500 $ 103,000 36,000 139,000 601,600 Paid-in capital in excess of par value, common stock 210,400 322 600 728,800 307,000 (108,000) $ 927,800 $ 79,000 29,100 108,100 576,000 172,000 78 960