Golden Corporation's current year income statement, comparative balance sheets, and additional

information follow. 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, and $(5)$ any change in Income Taxes Payable reflects the accrual and cash

payment of taxes.

Additional Information on Current Year Transactions

a$.$ Purchased equipment for $$47,800$ cash.

b$.$ Issued $12,700$ shares of common stock for $$5$ cash per share.

c$.$ Declared and paid $$96,000$ in cash dividends.