Your answer is partially correct. 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 $ 27,000 $ 14,500 Accounts receivable (net) 74,500 125,000 Inventory 199,000 185,000 Accounts payable 47,000 91.000 Notes payable 27,500 57,000 Common stock, $100 par 399,000 399,000 Retained earnings 118,000 107.000 Additional information: 1. The inventory turnover is 3.8 times. 2. The return on common stockholders' equity is 26%. The company had no additional paid-in capital. 3. The accounts receivable turnover is 8.7 times. 4. The return on assets is 12.5%. 5. Total assets at December 31, 2019, were $593,000. Compute the following for Panza Corporation. (a) Cost of goods sold for 2020 $ 729600 (b) Net credit sales for 2020, $ 867825 (c) Net income for 2020 $ 132990 (d) Total assets at December 31, 2020 $ 559752 e Textbook and Media Solution Attempts: 3 of 3 used Using multiple attempts has impacted your score