Question
Bramble Consulting Corporation experienced a fire on December 31, 2025, in which its financial records were partially destroyed. It has been able to salvage
Bramble Consulting Corporation experienced a fire on December 31, 2025, in which its financial records were partially destroyed. It has been able to salvage some of the records and has ascertained the following balances. December 31, 2025 December 31, 2024 Cash $45,600 $ 17,100 Accounts receivable (net) 95,760 143,640 Inventory 228,000 205,200 Accounts payable 57,000 11,400 Notes payable 34,200 22,800 Common stock, $100 par 456,000 456,000 Retained earnings 193,800 114,000 Additional information: 1. The inventory turnover is 4.2 times. 2. The return on common stockholders' equity is 14%. The company had no additional paid-in-capital. 3. The accounts receivable turnover is 10.2 times. 4. The return on assets is 12.5%. 5. Total assets, Dec. 31, 2024 = $689,420. Compute the following values for 2025: (a) Cost of goods sold $ (b) Net credit sales (c) Net income 909720 LA $ 1220940 LA $ (d) Total assets $ 85386
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