On July $15,2026,$ fire damaged the office and warehouse of Martinez Corporation. The only accounting record saved was the general ledger, from which the following trial balance was prepared: MARTINEZ CORPORATION TRIAL BALANCE June $30,2026$ Cash Accounts receivable Inventory, December $31,2025$ Land Buildings Accumulated depreciation Equipment Accounts payable Other accrued expenses Common stock Retained earnings Sales revenue Purchases Miscellaneous expense $$10,800176,000156,00059,200274,000$ $$54,80026,700141,4003,7009,600383,000707,100522,40074,500$ Computation of Gross Profit Rate Gross Profit Rate

On July $15,2026,$ fire damaged the office and warehouse of Bridgeport Corporation. The only accounting record saved was the

general ledger, from which the following trial balance was prepared:

BRIDGEPORT CORPORATION

TRIAL BALANCE

June $30,2026$

The following data and information have been gathered.

The following data and information have been gathered.

The fiscal year of the corporation ends on December $31.$

An examination of the July bank statement and canceled checks revealed that checks written during the period July $1-15$

totaled $$56,400$: $$54,400$ paid to accounts payable as of June $30,$ $$2,800$ for July merchandise shipments, and $$4,100$ paid for

other expenses. Deposits during the same period amounted to $$79,700,$ which consisted of receipts on account from

customers with the exception of a $$1,600$ refund from a vendor for merchandise returned in July.

Correspondence with suppliers revealed unrecorded obligations at July $15$ of $$27,300$ for July merchandise shipments,

including $$1,600$ for shipments in transit $($f$.$o$.$b$.$ shipping point$)$ on that date.

Customers acknowledged indebtedness of $$166,300$ at July $15,2026.$ It was also estimated that customers owed another

$$13,000$ that will never be acknowledged or recovered. Of the acknowledged indebtedness, $$2,100$ will probably be

uncollectible.

The companies insuring the inventory agreed that the corporation's fire$-$loss claim should be based on the assumption that

the overall gross profit rate for the past $2$ years was in effect during the current year. The corporation's audited financial

statements disclosed this information:

Year ended

December $31$

Inventory with a cost of $$11,100$ was salvaged and sold for $$2,70017\mathrm{.}25\%$ and final answer to $0$ decimal places, e$.$g$.28,987.(1)/(1)()/(26)-(6)/(30)()/(26)$

July merchandise shipments

paid

Unrecorded purchases on

account

Total

Less: Shipments in transit

Merchandise returne Add collections,$(7)/(1)()/(26)-$

$(7)/(15)()/(26)$

Total

Less receivables,$(6)/(30)()/(26)$

Total sales$(1)/(1)()/(26)-$

$(7)/(15)()/(26)$

Less gross profit

Cost of Goods Sold

Estimated merchandise

inventory

Less: Sale of salvaged

inventory

Inventory fire loss

$$

$

$