December 31, 2022 December 31, 2021 Cash $34,500 $19,500 Accounts receivable (net) 76,000 123,500 Inventory 191,000...

 

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December 31, 2022 December 31, 2021 Cash $34,500 $19,500 Accounts receivable (net) 76,000 123,500 Inventory 191,000 170,000 Accounts payable 51,000 92,000 Notes payable 30,500 64,500 Common stock, $100 par 394,000 394,000 Retained earnings 119,000 108,500 Additional information: 1. The inventory turnover is 3.70 times. 2 3 The return on common stockholders' equity is 26%. The company had no additional capital acco The accounts receivable turnover is 7.60 times. 4. The return on assets is 12.50%. 5. Total assets at December 31, 2021, were $600,000. Compute the following for Blossom Corporation. (a) Cost of goods sold for 2022 (b) Net credit sales for 2022 667850 758100 December 31, 2022 December 31, 2021 Cash $34,500 $19,500 Accounts receivable (net) 76,000 123,500 Inventory 191,000 170,000 Accounts payable 51,000 92,000 Notes payable 30,500 64,500 Common stock, $100 par 394,000 394,000 Retained earnings 119,000 108,500 Additional information: 1. The inventory turnover is 3.70 times. 2 3 The return on common stockholders' equity is 26%. The company had no additional capital acco The accounts receivable turnover is 7.60 times. 4. The return on assets is 12.50%. 5. Total assets at December 31, 2021, were $600,000. Compute the following for Blossom Corporation. (a) Cost of goods sold for 2022 (b) Net credit sales for 2022 667850 758100