Lacey Corporation experienced a fire on December 31, 2012 in which its financial records were partially destroyed. It has been able to salvage some of the records and has ascertained the following balances.

Additional information:1. The inventory turnover is 3.8 times.2. The return on common stockholders' equity is 22%. The company had no additional paid-in capital.3. The receivables turnover is 11.2 times.4. The return on assets is 18%.5. Total assets at December 31, 2011, were $605,000.InstructionsCompute the following for Lacey Corporation.(a) Cost of goods sold for 2012.(b) Net credit sales for 2012.(c) Net income for 2012.(d) Total assets at December 31,2012.

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December 31, 2012 December 31, 2011 $ 10,000 Cash Receivables (net) $ 30,000 72,500 200,000 126,000 Inventory Accounts payable Notes payable Common stock, $100 par Retained earnings 50,000 90,000 400,000 400,000 113,500 101,000