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Concord Corporation experienced a fire on December 31, 2020, in which its financial records were partially destroyed. It has been able to salvage some of
Concord Corporation experienced a fire on December 31, 2020, in which its financial records were partially destroyed. It has been able to salvage some of the records and has ascertained the following balances. Cash Accounts receivable (net) Inventory Accounts payable Notes payable Common stock, $100 par Retained earnings December 31, 2020 $36,300 80,900 209,700 53,700 33,600 407,000 119,600 December 31, 2019 $ 19,700 128,900 183.700 89,800 68,000 407,000 105,100 Additional information: 1. 2. 3. The inventory turnover is 3.7 times. The return on common stockholders' equity is 22%. The company had no additional paid-in capital. The receivables turnover is 12.1 times. The return on assets is 17%. Total assets at December 31, 2019, were $610,900. 4. 5. Compute the following for Concord Corporation. (Round all answers to decimal places, e.g. 2,150.) (a) Cost of goods sold for 2020. $ (b) Net credit sales for 2020. $ (c) Net income for 2020. $ $ (d) Total assets at December 31, 2020
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