Required information The following information applies to the questions displayed below) Grandpa Clocks, Incorporated (GCI), is a retailer of wall, mantle, and grandfather clocks. Assume GCI sells a grandfather clock for $18.500 cash plus 4 percent sales tax. The clock had originally cost GCI $14,500. Assume GCI uses a perpetual Inventory system 1. Indicate the effects of the amounts for the above transactions (Enter any decreases to assets, liabilities, or stockholders equity with a minus sign.) Answer is not complete Assets Cash Inventory Liabilities Sales Tax Payable o Stockholders' Equity Sales Revenue Cost of Goods Sold