Chart 1 ABC Group 123 Company Beginning accounts receivable; $75,000 $92,000 Ending accounts receivable $125,000 $123,000 Net credit sales $324,000 $401,000 Chart 2 Balance Sheet Year 1 Income Statement Year 1 Balance Sheet Year Income Statement Year Beginning Inventory $29,000 $10,826 Purchases $10,000 $7,435 Goods Available for Sale $39,000 $18,261 Ending Inventory $10,826 $5,980 Cost of Goods Sold $28,174 $12,281