es Liabilities and Equity Accounts payable Income taxes payable Total current liabilities Equity Common stock 2 par value Paid

Question

es 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 GOLDEN CORPORATION Income Statement For Current Year Ended December 31 Sales Cost of goods sold Gross profit Operating expenses excluding depreciation Depreciation expense Income before taxes Income taxes expense Net income Required 1 832 000 1 094 000 738 000 502 000 54 000 182 000 33 200 148 800 Additional Information on Current Year Transactions a Purchased equipment for 49 500 cash b Issued 12 800 shares of common stock for 5 cash per share c Declared and paid 97 000 in cash dividends 103 000 36 000 139 000 601 600 210 400 123 500 1 074 500 79 000 29 100 108 100 576 000 172 000 71 700 927 800

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