The following information applies to the questions displayed below. Poole Company began the 2014 accounting period with $36,000 cash, $80,000 inventory, $70,000 common stock, and $46,000 retained earnings. During the 2014 accounting period, Poole experienced the following events 1. Sold merchandise costing $51,500 for $92,900 on account to Mable's General Store. 2. Delivered the goods to Mable's under terms FOB destination. Freight costs were $500 cash. 3. Received returned goods from Mable's. The goods cost Poole Company $3,200 and were sold to Mable's for $4,700. 4. Granted Mable's a $1,500 allowance for damaged goods that Mable's agreed to keep. 5. Collected partial payment of $71,000 cash from accounts receivable