On July 15, 2026, fire damaged the office and warehouse of Grouper Corporation. The only accounting record saved was the general ledger, from which the following trial balance was prepared: GROUPER CORPORATION TRIAL BALANCE June 30, 2026 Cash $9,900 Accounts receivable 169,000 Inventory, December 31, 2025 159,000 Land 68,000 Buildings 318,000 Accumulated depreciation $57,500 Equipment 25,000 Accounts payable Other accrued expenses Common stock 148,000 104,200 11,000 Retained earnings 382,500 Sales revenue 631,900 Purchases 517,200 Miscellaneous expense 69,000 $1,335,100 $1,335,100 The following data and information have been gathered. 1. The fiscal year of the corporation ends on December 31. 2. 3. 4. 5. An examination of the July bank statement and canceled checks revealed that checks written during the period July 1-15 totaled $56,400: $54,400 paid to accounts payable as of June 30, $2,800 for July merchandise shipments, and $4,100 paid for other expenses. Deposits during the same period amounted to $79,700, which consisted of receipts on account from customers with the exception of a $1,600 refund from a vendor for merchandise returned in July. Correspondence with suppliers revealed unrecorded obligations at July 15 of $27,300 for July merchandise shipments, including $1,600 for shipments in transit (f.o.b. shipping point) on that date. Customers acknowledged indebtedness of $166,300 at July 15, 2026. It was also estimated that customers owed another $13,000 that will never be acknowledged or recovered. Of the acknowledged indebtedness, $2,100 will probably be uncollectible. 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 audited financial statements disclosed this information: