On Sept. 1, Jones Metal Corp. consigned 50 handcrafted benches to Hisco Co. Jones Metals cost was $350 per bench. Total freight costs were $700, which were paid by Hisco. On Jan. 1, Heavy Metal received a cheque for $14,100 from Hisco which included the following information:

Number of units sold: 20

Expenses deducted:

Freight: $700

Commission (20% of sales price) ?

Advertising $450

Delivery $290

a) Under the earnings approach, what were the total sales?

b) On whose statement of financial position and at what amount will the inventory of benches be reported?