Check my work 6 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) 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 statement follow 5 points eBook GOLDEN CORPORATION Comparative Balance Sheets December 31, 2017 and 2016 Print References 2017 2016 Assets Cash Accounts receivable Inventory Total current assets Equipment Accum. depreciation-Equipment Total assets $ 183,000 127,900 90,000 629,500 545,000 762,900 318,000 113,500 $1,142,700 967,400 111,500 924,000 386,200 167,500 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 $ 125,000 90,000 34,600 172,000 124, 600 47,000 630,000 215,000 587,000 188,500 125,70067,300 Mc Graw K Pre 6 of 6 Next