20. Quentin's December 31, 2013, inventory T-account debit balance was $56,000. During 2014, its inventory purchases amounted to $25,000, and there were no inventory-related write-downs or losses. What was Quentin's 2014 cost of goods sold expense? $5,000 $67,000 $20,000 $45,000 o to unanswered question: Assets Current Assets Cash... Quentin Company Balance Sheet as of December 31,2014 Liabilities Current Liabilities Accounts payable.. $42,000 Inventory 36.000 Short-term debt $ 30,000 42,000 Prepaid expense... 12,000 Total current liabilities. $72,000 Total current assets. $90,000 Non-current Liabilities Non-current Assets Plant and equipment (net)... 50,000 Bond payable... Owners' Equity 34,000 Patent (net) Total Assets 24,000 Common stock. 20,000 $170,000 Retained earnings.. 44,000 Total Liabilities and Owners' Equity $170,000 Question 20/40 submit