11! Question 5 of 5 - 1 View Policies Current Attempt in Progress Panza Corporation experienced a fire on December 31, 2020, 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, 2020 December 31 2019 Cash $ 33,500 $ 19,500 Accounts receivable Inet) 80.000 125,500 Inventory 195.000 180,000 Accounts payable 50.000 93,500 29.000 62.000 Notes payable Common stock. $ 100 par 411,000 411.000 100,000 108,500 Retained earnings Additional information VueSL11013 - / 1 E Additional Information: 1 The inventory turnover is 2.2 times 2. 3 The return on common stockholders equity is 26%. The company had no additional paid-in capital The accounts receivable turnover is 7.0 times The return on assets is 12.5% Total assets at December 31, 2019, were $615,000 4 5. Compute the following for Panza Corporation () a) Cost of goods sold for 2020 $ (b) Net credit sales for 2020 $ c) Net income for 2020 $ (d) Total assets at December 31, 2020 $