Question
Q3 A1 Consulting Corporation experienced a fire on December 31, 2025, in which its financial records were partially destroyed. It has been able to salvage
Q3 A1 Consulting Corporation experienced a fire on December 31, 2025, in which its financial records were partially destroyed. It has been able to salvage some of the records and has ascertained the following balances. December 31,2025 (2024)/(" Cash ") Accounts receivable (net) Inventory Accounts payable Notes payable Common stock, $100 par Retained earnings $40,000 $15,000 84,000 126,000 200,000 180,000 50,000 10,000 30,000 20,000 400,000 400,000 170,000 101,000 Additional information: The inventory turnover is 4.2 times The return on common stockholders' equity is 14%. The company had no additional paid-incapital. The accounts receivable turnover is 10.2 times. The return on assets is 12.5%. Total assets, Dec. 31,2024=$604,750. Instructions Compute the following: a)cost of goods sold/b)net credit sales/c)net income/d)total assets
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