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The given argument is based on two premises. The first premise states that all apples are golden in color, meaning every apple is golden. The second premise states that no golden colored things are cheap, implying that anything that is golden in color is not cheap.
The first option states that only statement I is correct. Statement I concludes that all apples are cheap based on the given premises. However, this is incorrect because there is no information given about the price of apples. Therefore, statement I cannot be logically concluded from the premises.
The second option states that only statement II is correct. Statement II concludes that golden colored apples are not cheap based on the premises. This is the correct answer because it follows logically from the second premise that no golden colored things are cheap.
The third option states that both statement I and II are correct. However, as explained earlier, statement I cannot be concluded based on the given premises. Therefore, this option is incorrect.
The fourth option states that neither statement I nor II is correct. However, statement II is indeed correct based on the given premises. Therefore, this option is also incorrect.
In conclusion, only statement II is correct based on the given premises.