Computing Amounts from Financial Ratios Rick Corporation experienced a fire on December 31, 2018, 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, 2018 December 31, 2017 Inventory 100,000 91,000 Accounts receivable (net) 37,000 63,000 Cash 15,000 5,000 200,000 200,000 Share capital-ordinary, 100 par Retained earnings 66,000 61,000 Accounts payable 25,000 45,000 Notes payable 15,000 30,000 Additional information: 1. The inventory turnover is 3.6 times. 2. The return on equity is 20%. 3. The accounts receiva ver is 8.7 time: 4. The return on assets is 25%. 5. Total assets at December 31, 2017, were 324,000. Required: Compute the following for Rick Corporation. 1. Cost of goods sold for 2018 2. Net sales (credit) for 2018 3. Net income for 2018 4. Total assets at December 31, 2018