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 $$46,100$ cash.

b$.$ Issued $12,600$ shares of common stock for $$5$ cash per share.

c$.$ Declared and paid $$95,000$ in cash dividends.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.