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Golden Manufacturing Company started operations by acquiring $143,600 cash from the issue of common stock. On January 1, Year the company purchased equipment that cost

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Golden Manufacturing Company started operations by acquiring $143,600 cash from the issue of common stock. On January 1, Year the company purchased equipment that cost $143.600cash, had an expected useful life of six years, and had an estimated salvage value of $28,720. Golden Manufacturing earned $95,110 and $65,960 of cash revenue during Year 1 and Year 2 , respectively. Golden Manufacturing uses double-declining-balance depreciation. Required Prepare income statements, balance sheets, and statements of cash flows for Year 1 and Year 2 . Use a vertical statements format (Hir Record the events in T-accounts prior to preparing the statements.) (Do not round intermediate calculations, Round your final answers to the nearest whole dollar. Amounts to be deducted and net loss should be indicated with a minus sign.)

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