The following account balances (normal balances) were taken from the journal entry used to transfer various merchandise amounts under a periodic inventory system into the Cost of Goods Sold account: Cost of Goods Sold Inventory (ending) Freight-In Purchase Discounts Purchases Purchase Return $200,000 71,000 5,500 4,000 185,000 5,700 Based on the above facts, what was the beginning inventory? Select one: a. $65,300 O b. $51,800 c. $70,800 d. $95,700 e. $90,200 During the year, the Jackson Company reported a decrease in liabilities of $32,400. For the year, revenues were $118,300, expenses were $197.900, and dividends were $7,000. During the year, $37,000 in common stock was issued. There were no other changes in equity. What was the decrease in assets for the year? Select one: O a. $68,000 b. $17,200 c. $82,000 d. $91,200 e. $156,000