On April 15, 2018, fire damaged the office and warehouse of Sarasota Corporation. The only accounting record saved was the general ledger, from which the balance sheet data below was prepared. SARASOTA CORPORATION MARCH 31, 2018 $21,640 Cash 41,310 Accounts receivable 77,490 Inventory, December 31, 2017 34,680 Land 112,620 Buildings $44,180 Accumulated depreciation 3,860 Equipment 22,809 Accounts payable 15,076 Other accrued expenses 103,100 Common stock 50,970 Retained earnings 134,520 Sales revenue 50,970 Purchases 28,085 Miscellaneous expense $370,655 $370,655 The following data and information have been gathered. 1. The fiscal year of the corporation ends on December 31 2. An examination of the April bank statement and canceled checks revealed that checks written during the period April 1-15 totaled $12,890: $5,595 paid to accounts payable as of March 31, $3,438 for April merchandise shipments, and $4,219 paid for other expenses. Deposits during the same period amounted to $13,859, which consisted of receipts on account from customers with the exception of a $910 refund from a vendor for merchandise returned in April. 3. Correspondence with suppliers revealed unrecorded obligations at April 15 of $17,083 for April merchandise shipments, including $2,305 for shipments in transit (f.o.b. shipping point) on that date. 4. Customers acknowledged indebtedness of $47,1400 at April 15, 2018. It also estimated that customers owed another $8,080 that will never be acknowledged or recovered. Of the acknowledged indebtedness, $633 will probably be uncollectible. was 5. The companies insuring the inventory agreed that the corporation's fire-loss claim should be based on the assumption that the overall gross profit rate for the past 2 years was in effect during the current year. The corporation's Year Ended December 31 2016 2017 $420,210 $487,600 Net sales 224,280 258,650 Net purchases 72,510 53,000 Beginning inventory 53,000 77,490 Ending inventory 6. Inventory with a cost of $7,640 was salvaged and sold for $3,520. The balance of the inventory was a total loss. Compute the amount of inventory fire loss. (Round ratios for computational purposes to 2 decimal places, e.g 78.52% and final answer to 0 decimal places, e.g. 28,987.) Inventory fire loss