Use the following information for the Problems below. [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 sales, (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, (5) 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 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, $2 par value Paid-in capital in excess of par value, common stock Retained earnines Current Year Prior Year $ 169,000 $112,500 90,500 608,500 868,000 348,400 (160,500) $1,055,900 76,000 531,000 719,500 304,000 (106,500) 5 917,000 $ 97,000 $ 76,000 33,000 130,000 27,600 103,600 598,000 573,000 205,000 167,500 122.900 72.900 Che