Required information

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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$]]],[$Cash$,$$$176,000,$$$120,200$