Unit 7 - Chapter 10 Homework Assignment Saved Help 1 ! Required information (The following information applies to the questions displayed below.) Part 1 of 2 Grandpa Clocks, Incorporated (GCI), is a retailer of wall, mantle, and grandfather clocks. Assume GCI sells a grandfather clock for $19,000 cash plus 5 percent sales tax. The clock had originally cost GCI $15,000. Assume GCI uses a perpetual inventory system 10 points 1. Indicate the effects of the amounts for the above transactions. (Enter any decreases to assets, liabilities, or stockholders equity with a minus sign.) Print Assets = Liabilities + Stockholders' Equity E =