Grandpa Clocks, Incorporated (GCI), is a retailer of wall, mantle, and grandfather clocks. Assume GCI sells a grandfather clock for $19,000 cash plus 5 percent sales tax. The clock had originally cost GCI $15,000. Assume GCI uses a perpetual Inventory system. M10-2 (Algo) Part 1 1. Indicate the effects of the amounts for the above transactions. (Enter any decreases to assets, liabilities, or stockholders equity with a minus sign.)