don't answer by hand righting please

Problem 9

Santo Corporation 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.

December 31, 2017 December 31, 2016

Cash $ 30,000 $ 10,000

Accounts receivables (net) 84,000 126,000

Inventory 200,000 180,000

Accounts payable 50,000 90,000

Notes payable 30,000 60,000

Share capital ordinary, $100 par 400,000 400,000

Retained earnings 130,000 101,000

Additional information:

1. The inventory turnover is 5 times

2. The return on ordinary shareholders' equity is 18%. The company had no share premium.

3. The accounts receivable turnover is 9.4 times.

4. The return on assets is 16%.

5. Total assets at December 31, 2016, were $585,000.

Instructions

Compute the following for Santo Corporation.

(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.