Use the following information for the Problems below. $($Algo$)$

$[$The following information applies to the questions 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 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.

$\backslash$table$[[\backslash$table$[[$GOLDEN CORPORATION$],[$Comparative Balance Sheets$],[$December $31]],$Current Year,Prior Year$],[\backslash$table$[[$Assets$],[$Cash$],[$Accounts receivable$],[$Inventory$],[$Total current assets$],[$Equipment$],[$Accumulated depreciation$-$Equipment$]],\backslash$table$[[\backslash$table$[[$$$165,000$