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Swifty Corporation experienced a fire on December 31, 2022, in which its financial records were partially destroyed. It has been able to salvage some
Swifty Corporation experienced a fire on December 31, 2022, 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, 2022 December 31, 2021 Cash $37,000 $13,000 Accounts receivable (net) 73,600 129,900 Inventory 201,600 185,000 Accounts payable 53,700 94,900 Notes payable 31,400 60,700 Common stock, $100 par 404,300 404,300 Retained earnings 122,000 102,600 Additional information: 1. The inventory turnover is 5.9 times 2 The return on common stockholders' equity is 21%. The company had no additional paid-in capital 3. The receivables turnover is 13.1 times. 4. The return on assets is 19% 5. Total assets at December 31, 2021, were $614,100. Compute the following for Swifty Corporation. (Round all answers to O decimal place, e.g. 2,150) (a) Cost of goods sold for 2022 (b) Net credit sales for 2022 (c) Net income for 2022 (d) Total assets at December 31, 2022 L3
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