Golden Corp., a merchandiser, recently completed its 2015 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 aredit, (4) all debits to Accounts Payable reflect cash payments for inventory, (5) Other Expenses are all cash expenses, and (8) any change in Income Taxes Payable reflects the acorual and cash payment of taxes. The company's balance sheets and income statement follow GOLDEN CORPORATION Comparative Balance Sheets December 31, 2015 and 2014 2015 2014 Assets Cash Accounts receivable Inventory S 202,000 S 129,000 89,000 611,000 531,000 88,000 Total current assets Equipment Accum. depreciation 901,000 729,000 343,000 309,000 (183,000) (109,000) Equipment Total assets S1,081,000 S929,000 Liabilities and Equity Accounts payable Income taxes payable S 88,000 S 76,000 38,000 30,000 Total current liabilitie Equity Common stock, $2 par value Paid-in capital in excess of par value, common stock Retained earnings 126,000 106,000 806,000 578,000 207,000 185,000 142,000 80,000 Total liabilities and equity S1,081,000 S929,000