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Golden Corporation's current year income statement, comparative balance sheets, and additional information follow. For the...

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Accounting

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 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, and (5) 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
Accumulated 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 earnings
Total liabilities and equity
Current Year Prior Year
\table[[$184,000,$129,000
Its cut off on the picture but ut also has a section for filling out
"Net increase (decrease) in cash"
"Cash balance at December 31, prior year"
"Cash balance at December 31, current year"
image

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