On July 15,2026 , fire damaged the office and warehouse of Blue Corporation. The only accounting record saved was the general ledger, from which the following trial balance was prepared: The following data and information have been gathered. 1. The fiscal year of the corporation ends on December 31 . 2. An examination of the July bank statement and canceled checks revealed that checks written during the period July 115 totaled $53,700:$48,100 paid to accounts payable as of June 30,$3,100 for July merchandise shipments, and $4,600 paid for other expenses. Deposits during the same period amounted to $74,100, which consisted of receipts on account from customers with the exception of a $1,500 refund from a vendor for merchandise returned in July. 3. Correspondence with suppliers revealed unrecorded obligations at July 15 of $26,200 for July merchandise shipments, including $1,410 for shipments in transit (f.o.b. shipping point) on that date. 4. Customers acknowledged indebtedness of $161,500 at July 15,2026 . It was also estimated that customers owed another $11,300 that will never be acknowledged or recovered. Of the acknowledged indebtedness, $2,100 will probably be uncollectible. 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 audited financial statements disclosed this information: Inventory with a cost of $10,300 was salvaged and sold for $2,700. The balance of the inventory was a total loss. Complete the schedule computing the gross profit and the schedule to determine the amount of inventory fire loss. (Round ratios for computational purposes to 0 decimal places, e.g 78% and final answer to 0 decimal places, e.g. 28,987.) BLUE CORPORATION Computation of Inventory Fire Loss Inventory, 1/1/26 Purchases, 1/1/266/30/26 July merchandise shipments paid Unrecorded purchases on account Total Less: Shipments in transit Merchandise returned Merchandise available for sale Less estimated cost of sales: Sales, 1/1/26-6/30/26 Sales, 7/1/26 - 7/15/26 Receivables acknowledged at 7/15/26 Estimated receivables not acknowledged Total Add collections, 7/1/26 7/15/26 Total Less receivables, 6/30/26 Total sales 1/1/26 7/15/26 Less gross profit Cost of Goods Sold Estimated merchandise inventory Less: Sale of salvaged inventory Inventory fire loss $ Computation of Gross Profit Rate $ $ On July 15,2026 , fire damaged the office and warehouse of Blue Corporation. The only accounting record saved was the general ledger, from which the following trial balance was prepared: The following data and information have been gathered. 1. The fiscal year of the corporation ends on December 31 . 2. An examination of the July bank statement and canceled checks revealed that checks written during the period July 115 totaled $53,700:$48,100 paid to accounts payable as of June 30,$3,100 for July merchandise shipments, and $4,600 paid for other expenses. Deposits during the same period amounted to $74,100, which consisted of receipts on account from customers with the exception of a $1,500 refund from a vendor for merchandise returned in July. 3. Correspondence with suppliers revealed unrecorded obligations at July 15 of $26,200 for July merchandise shipments, including $1,410 for shipments in transit (f.o.b. shipping point) on that date. 4. Customers acknowledged indebtedness of $161,500 at July 15,2026 . It was also estimated that customers owed another $11,300 that will never be acknowledged or recovered. Of the acknowledged indebtedness, $2,100 will probably be uncollectible. 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 audited financial statements disclosed this information: Inventory with a cost of $10,300 was salvaged and sold for $2,700. The balance of the inventory was a total loss. Complete the schedule computing the gross profit and the schedule to determine the amount of inventory fire loss. (Round ratios for computational purposes to 0 decimal places, e.g 78% and final answer to 0 decimal places, e.g. 28,987.) BLUE CORPORATION Computation of Inventory Fire Loss Inventory, 1/1/26 Purchases, 1/1/266/30/26 July merchandise shipments paid Unrecorded purchases on account Total Less: Shipments in transit Merchandise returned Merchandise available for sale Less estimated cost of sales: Sales, 1/1/26-6/30/26 Sales, 7/1/26 - 7/15/26 Receivables acknowledged at 7/15/26 Estimated receivables not acknowledged Total Add collections, 7/1/26 7/15/26 Total Less receivables, 6/30/26 Total sales 1/1/26 7/15/26 Less gross profit Cost of Goods Sold Estimated merchandise inventory Less: Sale of salvaged inventory Inventory fire loss $ Computation of Gross Profit Rate $ $