Golden Corporation declared and paid $4,600 of cash dividends during the current year ended December 31. Its financial statements also reported the following summarized data: Current Previous Income Statement Sales revenue Cost of goods sold Gross profit Operating expenses Interest expense Income before income taxes Income tax expense Net income Balance Sheet Cash Accounts receivable (net) $260,000 $229,000 142,000 132,000 118,000 97,000 69,300 63,200 4,300 4,200 44,400 29,600 13,320 4,600 $ 31,080 $25,000 $ 7,480 $ 9,600 35,000 31,000 Inventory 56,000 51,000 Property and equipment (net) 61,000 54,000 $159,480 $145,600 Current liabilities $16,000 $30,200 Note payable (long-term) 61,000 61,000 Common stock (par $5) 39,600 39,600 Additional paid-in capital. 8,200 6,600 Retained earnings 34,680 8,200 $159,480 $145,600