Kinkaid Co. is incorporated at the beginning of this year and engages in a number of transactions. The following journal entries impacted its stockholders equity during its first year of operations.

GOLDEN CORPORATION Comparative Balance Sheets December 31, 2016 and 2015 2016 2015 Assets Cash Accounts receivable Inventory Total current assets Equipment Accum. depreciation-Equipment Total assets $209,000 $150,000 76,000 538,000 764,000 323,000 177,000)(116,000 $1,110,000 $ 971,000 89,000 625,000 923,000 364,000 Liabilities and Equity Accounts payable Income taxes payable Total current liabilities Equity Common stock, $2 par value Paid-in capital in excess of par value, common stock Retained earnings Total liabilities and equity $ 91,000$ 83,000 37,000 120,000 46,000 137,000 614,000 592,000 172,000 87,000 $1,110,000$ 971,000 205,000 154,000