Paxtang Corporation's inventory on January 1, 2021 was $53,000. During 2021. Paxtang's purchases of inventory mounted to $200.000. On December 31, 2021, Paxtang's inventory was $62,000. What is Paxtang's cost of goods sold for 20217 3315.000 $85.000 $191,000 $209,000 3.85 pts Question 18 Below are and costs of the Top 20000 2020 2021 Sales $10.000 $12.000 COGS: Beg 1.000 1.500 Purchases 2.000 3.500 COG Available 8.000 10,000 Ending in 1.500 6.500 (2.000) 8.000 Gross profit $3.500 $4.000 Thomas Corporation discovers that the ending inventory above for 2020 was understated by $700. The correct ending inventory on December 31 2020 was $2.200 rather than $1.500, the correct gross proht for 2020 and 2021 would be Gross profit in 2020 $2,800 in 2021 $4.700 Gross profit in 2020 $4.200: in 2021 $4,000 Gross profit in 2020 $4200: in 2021 $3,300. Gross profit in 2020 $2,800: in 2021 $3.300. On October 1, 2021. Lancaster Corporation spent a total of $19.200 in cash for insurance. The insurance covered the next 12 months and Lancaster debited the account Prepaid Insurance. On December 31, 2021, the adjusting entry was properly made. What would be the balance of Prepaid Insurance on December 31, 2021 after the adjusting entry? $4.800 @ $0 $14,400 $19.200 Question 20 3.85 pts sed on the following data as of December 31, 2021, what is the amount of current assets? Be the flow of December 31, 2021, at the A $62.000 Avable 100.000 Die 1340.000 Cash 30.000 Patent 100,000 Inventory 138.000 Note receivable, due Feb 1, 2023 160.000 Short-term investments 30,000 Note payable, due June 1, 2022 56,000 Prepaid expenses 2.000 $212,000 5510.000 $350,000 $210,000