Juan Morales Company had the following account balances at year-end: Cost of Goods Sold $62,070, Inventory $15,000, Operating Expenses $30,060,...

Juan Morales Company had the following account balances at year-end: Cost of Goods Sold $62,070, Inventory $15,000, Operating Expenses $30,060, Sales Revenue $126,930, Sales Discounts $1,100, and Sales Returns and Allowances $1,880. A physical count of inventory determines that merchandise inventory on hand is $12,400.