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Alderwood Company has provided the following information prior to any year-end bad debt adjustment: - Cash sales, $458,000 - Credit sales, $1,374,000 - Selling and administrative expenses, $354,000 - Sales returns and allowances, $114,000 - Gross profit, \$1,494,000 - Accounts receivable, $354,000 - Sales discounts, $66,000 - Allowance for doubtful accounts credit balance, $3,920 Alderwood estimates bad debt expense assuming that 1.5% of credit sales have historically been uncollectible. What is the balance in the allowance for doubtful accounts after bad debt expense is recorded? Multiple Choice $20,610. $24,530. $16,690. $24,080. At the beginning of 2022 , Ironwood Company had assets of $226,000 and liabilities of $138,000. During 2022 , assets increased $22,500 and liabilities increased $5,000. What was stockholders' equity at December 31, 2022 ? Multiple Choice $120,500 $143,000 $60,500 $105,500