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Lingenfelter Corporation experienced a fire on December 31, 2017, in which its financial records were partially destroyed. It has been able to salvage some of
Lingenfelter Corporation experienced a fire on December 31, 2017, in which its financial records were partially destroyed. It has been able to salvage some of the records and has ascertained the following balances. Additional information: The inventory turnover is 2.8 times. The return on common stockholders' equity is 30%. The company had no additional paid-in capital The accounts receivable turnover is 8.3 times. The return on assets is 12.5%. Total assets at December 31, 2016, were $595,000 Compute the following for Lingenfelter Corporation (Round answers to 0 decimal places, e.g. 5, 275.) Cost of goods sold for 2017 $ ____________ Net sales (credit) for 2017 $ ____________ Net income for 2017 $ __________ Total assets at December 31, 2017 $ ___________
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