$!$

Required information

$[$The following information applies to the questions displayed below.$]$

The following year$-$end information is taken from the December $31$ adjusted trial balance and other records of Leone Company.

$\backslash$table$[[$Advertising expense,$$30,000$Required information

$[$The following information applies to the questions displayed below.$]$

Golden Corporation's current year income statement, comparative balance sheets, and additional information follow. 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, and

$(5)$ any change in Income Taxes Payable reflects the accrual and cash payment of taxes.

$\backslash$table$[[\backslash$table$[[$GOLDEN CORPORATION$],[$Comparative Balance Sheets$],[$December $31]],$Current Year,Prior Year$],[$Assets$,,],[$Cash$,$$$179,000,$$$123,500$

Required information

$[$The following information applies to the questions displayed below.$]$

Golden Corporation's current year income statement, comparative balance sheets, and additional information follow. 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, and

$(5)$ any change in Income Taxes Payable reflects the accrual and cash payment of taxes.

$\backslash$table$[[,\backslash$table$[[$GOLDEN CORPORATION$],[$Comparative Balance Sheets$],[$December $31]],$Current Year,Prior Year$],[\backslash$table$[[$Assets$],[$Cash$]],$S$,$$$179,000,$$$123,500$