GOLDEN CORPORATION Comparative Balance Sheets December 31 Current Year Prior Year 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 Paid-in capital in excess of par value, common stock Retained earnings Total liabilities and equity 631,000 928,000 388,900 $ 184,000 113,000 (168,000) $ 127,000 48,000 $ 129,000 91,000 546,000 766,000 319,000 (114,000) $ 971,000 $ 91,000 35,100 126,100 $ 1,148,900 175,000 616,000 588,000 232,000 190,000 125,900 66,900 $ 1,148,900 $ 971,000 GOLDEN CORPORATION Sales Income Statement For Current Year Ended December 31 $ 1,892,000 1,106,000 786,000 514,000 54,000 Cost of goods sold Gross profit Operating expenses (excluding depreciation) Depreciation expense Income before taxes Income taxes expense Net income Additional Information on Current Year Transactions a. Purchased equipment for $69,900 cash. 218,000 50,000 $ 168,000 b. Issued 14,000 shares of common stock for $5 cash per share. c. Declared and paid $109,000 in cash dividends.