Required Information [The following information applles 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 Recelvable reflect cash recelpts 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 refiects the accrual and cash payment of taxes. Additional Information on Current Year Transactions 1. Purchased equipment for $63,100 cash. 2. Issued 13,600 common shares for $5 cash per share. 3. Declared and pald $105,000 in cash dividends. Required Information [The following information applles 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 Recelvable reflect cash recelpts 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 refiects the accrual and cash payment of taxes. Additional Information on Current Year Transactions 1. Purchased equipment for $63,100 cash. 2. Issued 13,600 common shares for $5 cash per share. 3. Declared and pald $105,000 in cash dividends