Gross billings for merchandise sold by Cullumber Company to its customers last year amounted to $12720000; sales returns and allowances were $360000, sales discounts were $175300, and freight-out was $139400. Net sales last year for Cullumber Company were:.a. $12,720,000.b. $12,275,000.c. $12,175,000.d. None of the above.

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.