GOLDEN CORPORATION Income Statement For Current Year Ended December 31 Sales $ 1,837,000 Cost of goods sold 1,095,000 Gross profit 742,000 Operating expenses Depreciation expense $ 54,000 Other expenses 503,000 557,000 Income before taxes 185,000 Income taxes expense 34,600 Net income $ 150,400 Additional Information on Current Year Transactions Purchased equipment for $51,200 cash. Issued 12,900 shares of common stock for $5 cash per share. Declared and paid $98,000 in cash dividends.

Additional Information on Current Year Transactions

1. Purchased equipment for $51,200 cash.
2. Issued 12,900 shares of common stock for $5 cash per share.
3. Declared and paid $98,000 in cash dividends.