Golden Manufacturing Company started operations by acquiring $108,000 cash from the issue of common stock. On January 1, Year 1, the company purchased equipment that cost $98,000 cash, had an expected useful life of five years, and had an estimated salvage value of $9,800. Golden Manufacturing earned $90,030 and $64,550 of cash revenue during Year 1 and Year 2, respectively. Golden Manufacturing uses double-declining-balance depreciation. Required a. Record the above transactions in a horizontal statements model. b-1. Prepare income statements for Year 1 and Year 2. b-2. Prepare balance sheets for Year 1 and Year 2. b-3. Prepare statements of cash flows for Year 1 and Year 2. Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Reg A Req B1 Inc Stmt Req B2 Bal Sheet Req B3 Stmt Cash Prepare balance sheets for Year 1 and Year 2. (Do not round intermediate calculations. Round the final answers to nearest dollar amount.) GOLDEN MANUFACTURING COMPANY Balance Sheets As of December 31 Year 1 Year 2 Assets Cash Equipment Less: Accumulated depreciation OO 100,030 98,000 39,200 $ 158,830 164,580 98,000 62,720 Total Assets 199,860 Stockholders' equity Common stock 108,000 50,830 108,000 41,030 X Retained earnings Total stockholders' equity 0 $ 158,830 $ 149,030