Required Information

$[$The following Information applles to the questlons 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 reflects the accrual and cash payment of taxes.

Additional Information on Current Year Transactlons

a$.$ Purchased equipment for $$69,900$ cash.

b$.$ Issued $14,000$ shares of common stock for $$5$ cash per share.

c$.$ Declared and paid $$109,000$ in cash dividends.