Blue Spruce Corp. took a physical inventory on December 31 and determined that goods costing $229,500 were on hand. Not included in the physical count were $30,000 of goods purchased from Blossom Company, FOB, shipping point, and $25,500 of goods sold to Splish Brothers Inc. for $33,000, FOB destination. Both the Blossom purchase and the Splish Brothers sale were in transit at year-end. What amount should Blue Spruce report as its December 31 inventory?

Casey communications recently issued new common stock and used the proceeds to pay off some of its short-term notes payable. this action had no effect on the company's total assets or operating income. which of the following effects would occur as a result of this action? a. the company's current ratio increased.b. the company's times interest earned ratio decreased.c. the company's basic earning power ratio increased.d. the company's equity multiplier increased.e. the company's debt ratio increased.