P9.7 (LO 4) (Gross Profit Method) On April 15, 2021, fire damage the office and warehouse of Stanislaw corporation. The only accounting records saved was a general ledger, from which the balance sheet data below is prepared.

Can someone please show me the calculations and how to solve this problem. Thank you!

Do not use the retail inventory method.) P9.7 (LO 4) Groupwork (Gross Profit Method) On April 15, 2021, fire damaged the office and warehouse of Stanislaw Corporation. The only accounting record saved was the general ledges from which the balance sheet data below was prepared. Cr Stanislaw Corporation March 31, 2021 Dr. Cash $ 20,000 Accounts receivable 10,000 Inventory, December 31, 2020 75,000 Land 35,000 Buildings 110.000 Accumulated depreciation Equipment 3,600 Accounts payable Other accrued expenses Common stock Retained earnings Sales revenue Purchases 52,000 26,600 Miscellaneous expense $362,200 $ 41.300 23.700 10.200 100,000 52.000 135.000 $362,200 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 $13,000: 5.700 paid to accounts payable as of March 31, $3,400 for April merchandise shipments, and $3,900 paid for other expenses. Deposits during the same period amounted to $12,950, which consisted of receipts on account from customers with the excep tion of a $950 refund from a vendor for merchandise returned in April. 3. Correspondence with suppliers revealed unrecorded obligations at April 15 of $15,600 for Aprilmer chandise shipments, including $2,300 for shipments in transit (ob. shipping point) an that date. 4. Customers acknowledged indebtedness of $46,000 at April 15, 2021. It was also estimated that cus tomers owed another $8,000 that will never be acknowiedged or recovered. Of the acknowledged indebtedness, $600 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 cur rent year. The corporation's audited financial statements disclosed this information: Year Ended December 31 2020 2019 Net sales $530,000 $390,000 Net purchases 280,000 235,000 Beginning inventory 50,000 66,000 50,000 75,000 Ending inventory 6. Inventory with a cost of $7,000 was salvaged and sold for $3,500. The balance of the inventory was a total loss, Instructions Prepare a schedule computing the amount of inventory fire loss. The supporting schedule of the compu- tation of the gross profit should be in good form. (AICPA adapted)