Golden corporation income statement for current year ended december 31 sales $ 1,792,000 cost of goods sold 1,086,000 gross profit 706,000 operating expenses depreciation expense $ 54,000 other expenses 494,000 548,000 income before taxes 158,000 income taxes expense 22,000 net income $ 136,000 additional information on current year transactions purchased equipment for $36,000 cash. issued 12,000 shares of common stock for $5 cash per share. declared and paid $89,000 in cash dividends.