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 $19,500 cash plus 4 percent sales tax. The clock had originally cost GCI $15,500 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) Cash Cost of Goods Sold Assets Liabilities 22.200 Sales Tax Payable Inventory Stockholders' Equity 780 Sales Revenue 19.500 Cost of Goods Sold 15.500