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PLEASE answer only what I asked! Golden Corp., a merchandiser, recently completed its 2015 operations. For the year, (1) all sales are credit sales, (2)

PLEASE answer only what I asked!

Golden Corp., a merchandiser, recently completed its 2015 operations. For the year, (1) 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. The companys balance sheets and income statement follow.

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GOLDEN CORPORATION Comparative Balance Sheets December 31, 2015 and 2014 Assets Cash Accounts receivable Inventory Total current assets Equipment Accum. depreciation-Equipment Total assets 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 2014 2015 201,000 138,000 94,000 72,000 617,000 534,000 912,000 744,000 352,000 315,000 (169,000) (112,000) $1,095,000 $947,000 94,000 79,000 42,000 33,000 136,000 112,000 608,000 584,000 204,000 168,000 147,000 83,000 $1,095,000 $947,000

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