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, (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 Current Year Prior Year Assets Cash $183,000 5 127,900 Accounts receivable 111,500 90,000 Inventory 629,500 $45,000 Total current assets 124.000 762,900 Equipent 385,200 1,000 Accumulated depreciation-Equipment (167,500) (11),500) Yotal assets 3.1.142.0 $967.400 Liabilities and Equity Accounts payable $ 125,000 5.90.000 Income taxes payable 30.600 Total current litiet 172,000 124 Equity Common stock, 12 par valve 614 57.000 Pada in capital in ass of par value chain stock 230,20 188,5 nedoara 125 200 2 Totabiliteity 100 GOLDEN CORPORATION