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Golden Corp, a merchandiser, recently completed Its 2018 operations. For the year, (0 all sales...

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Accounting

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Golden Corp, a merchandiser, recently completed Its 2018 operations. For the year, (0 all sales are credit sales, al 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. (5) Other Expenses are all cash expenses, and (6) any change in Income Taxes Payable reflects the accrual and cash payment of taxes. The company's balance sheets and Income statement follow GOLDEN CORPORATION Comparative Balance Sheets December 31, 2018 and 2817 2018 Assets Cash Accounts receivable Inventory Total current assets Equipnent Accus. depreciation-Equipment Total assets s 182,e00 s 126,8ee 89,000 110,000 628,00 920,000 383, 5ee 544,00 759,800 317,000 (167,e00) (113,00) $1,136, see 963,880 Liabilities and Equity Accounts payable Incote taxes payable Total current liab1lities Equity Common stock, $2 par value Paid-in capital in excess of par value, common stock Retained earnings Total liabilities and equity $ 123,eee $ 89,eee 34,180 169,eee 123,180 46,ee8 628,88 6ee,480 172,600 67,786 214,eee 125,5ee

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