The following is a listing of some of the balance sheet accounts and all of the income statement accounts for Northview Company as they appear on the company's adjusted trial balance Accounts Payable Accounts Receivable Inventory Advertising Expense Cost of Goods Sold Delivery Expense Income Tax Expense Insurance Expense Rent Expense Sales Revenue Sales Discounts Sales Returns & Allowances $ 18,000 30,000 23,800 21,500 165,000 7,900 3,700 1,000 19,600 350,000 9,100 47,500 Help Save & Exit Elm Corporation is a merchandising company. The year began with inventory of $15,000, Purchases for the year were $40,000, and the Ending Inventory was $2,000. What is the Cost of Goods Sold that would be reported on the income statement