Exercise 18-10 uingenfelter Corporation experienced a fire on December 31, 2017, in which its financial records were partially destroyed. It lha Cash Accounts receivable (net) Inventony Accounts payable Notes payable Common stock, $100 par Retained earnings 31.201731, 2016 $ 35,000 $17,500 128,500 180,000 92,000 61,500 390.000 109,000 72,500 197,000 50,000 29,500 390,000 101,000 Additional information: 1. 2. 3. 4. 5. The inventory turnover is 2.3 times. The return on common stockholders' equity is 20%. The company had no additional paid-in capital. The accounts receivable turnover is 8.2 times. The return on assets is 12.5%. Total assets at December 31. 2016, were $599,000. Compute the following for Lingenfelter Corporation. (a) Cost of goods sold for 2017 (b) Net sales (credit) for 2017 (c) Net income for 2017 (d) Total assets at December 34, 2017