Required information The following information applies to the questions displayed below) Golden Corp.'s current year income statement, comparative balance sheets, and additional information follow. For the year, (1) all sales are credit cales, (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, 15) Other Expenses are all cash expenses, and (6) any change in Income Taxes Payable reflects the accrual and cash payment of taxes GOLDEN CORPORATION Comparative Balance Sheets December 31 Current Year Prior Year $ 178,000 622.000 540.000 77 100 313,000 (111,000) $ 949,400 (165,000) $1, 111, 700 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, 32 par value Paid.in capital in excess of par value, common stock Retained earnings Total liabilities and equity $ $ 115,000 42.000 157,000 85,000 32.100 117100 600,800 221,200 124,700 $1,111,700 GOLDEN CORPORATION Income Statement For Current Year Ended December 31 $1,862,600 Cost of goods sold Gross profit 762.000 Operating expenses Depreciation expense Other expenses Income before taxes Income taxes expense Net Income . : Additional Information on Current Year Transactions a. Purchased equipment for $59,700 cash. b. Issued 13,400 shares of common stock for $5 cash per share. c. Declared and paid $103,000 in cash dividends. Income taxes payable Common stock, $2 par value Paid-in capital in excess of 63, 32.100 582,000 181 000 69 300 1050 400 value, common stock Retained earnings S Statement of cash fows Operating activities Investing activities Financing activities