Rees Company experienced a fire on December 31, 2017, 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 3.4 times.
2. The return on ordinary shareholders' equity is 25%.
3. The accounts receivable turnover is 8.8 times.
4. The return on assets is 20%.
5. Total assets at December 31, 2016, were €650,000.
Instructions
Compute the following for Rees Company.
(a) Cost of goods sold for 2017.
(b) Net sales (credit) for 2017.
(c) Net income for 2017.
(d) Total assets at December 31, 2017?

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December 31, 2017December 31, 2016 Inventory Accounts receivable (net) Cash Share capital-ordinary, 100 par Retained earnings Accounts payable Notes payable 200,000 73,000 30,000 400,000 134,000 50,000 30,000 180,000 126,000 10,000 400,000 122,000 90,000 60,000