Golden Corps current year income statement, comparative Dalance sneers, and agaitional intormation follow. For the year, y 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 (5) Other Expenses are all cash expenses, and (6) any change in Income Taxes Payable reflects the accrual and cash payment of taxes. GOLDEN CORPORATION Comparative Balance Sheets December 31 Current Yote Prior Year $164,000 3,000 601.000 148,000 335,000 150.000) $1,025,000 $ 107,000 71,000 526.000 704,000 299,000 (104.000) #999,000 Assets Caith Accounts receivable Inventory Total current assets Equipement Mem deprecation Equipment Totalt Liabilities and Equity untu paymbe The tax payable Total current Labilities quity Connontok: 92 DAE Value Vaidin ospital in excess of par value. Corontok ained earni Total abilities and equity 0 07.000 21 115,000 #71.000 25,000 96,000 592,000 195.000 122.000 01.025.000 560.000 160.000 125.000 $ 399,000 Denu 44 GOLDEN CORPORATION Income Statement Por Current Year Ended December 31 Sales $1,792,000 Cost of goods sold 1,086,000 Gross profit 706,000 Operating expenses Depreciation expense $ 54,000 Other expenses 494,000 548,000 Income before taxes 158,000 Income taxes expense 22,000 Net income $ 136,000 Additional Information on Current Year Transactions a. Purchased equipment for $36,000 cash. b. Issued 12,000 shares of common stock for $5 cash per share. c. Declared and paid $89,000 in cash dividends. Cash Accounts receivable, not Credit No. Debit Debit Credit No Date Dec 31 Balance 107,000 Balance 71,000 Date Dec 31 Equipment Inventory Debit No. Credit Credit No. Debit Date Dec 31 Balance 526,000 Date Dec 31 Balance 299,000 Accumulated depreciation - Equipment Date Debit Credit Dec 31 Accounts payable Debit Credit No No. Balance 104.000 Date Dec 31 Balance 71,000 Income taxes payable Debit Credit Common stoak, 52 par value Debit Credit No No. Date Dec 31 Balance 25,000 Dato Dec 31 Balance 568,000 Retained earnings Debit Credit No Pald.in capital in excess of par-Common Date Dobit Credit Balance Dec 31 160.000 No Date Dec 31 Balance 75,000 NEW BALAY CALLY userup uw meRTM. Very LOL GALI VIIe ayrces WICH the December 31, current year, balance sheet above. Year 2019 represents current year from the problem statement. Unadjusted Dates: Dec 31 to: Dec 31 GOLDEN COMPANY Trial Balance December 31, 2010 Account Title Dobit Credit s 107,000 71,000 526,000 299,000 Cash Accounts receivable.net inventory Equipment Accumulated depreciation Equipment Accounts payable income taxes payable Common stock, 52 par value Pald.in capital in excess of par. Common Retained earnings Total 104,000 71.000 25,000 568,000 160,000 75,000 1,003,000 1,003,000 $