10.00 points The following data relate to the operations of Shilow Company, a wholesale distributor of consumer goods nt assets as of March 3 9,400 Accounts receivable 27,600 51,000 inventory Building and equipment net 99,600 Accounts payable 30,675 Capital stock $150,000 Retained earnings 6,925 a. The gross margin is 25% of sales b. Actual and budgeted sales data. 69,000 March (actual 85.000 90,000 May $115,000 June 66,000 July c, Sales are 60% for cash and 40% on credit, Credit sales are collected in sale. The accounts receivable at March 31 are a result of March credit sales. d. Each month's endi goods sold. e. One-hal of a month's inventory purchases is paid for in the month of purchase the other ha s paid for in the following mon th. The accounts payable at March 31 are he result of March purchases of inventory f. Monthly expenses are as follows: commissions, 12% of sales rent, S4.200 per month: other expenses (excluding depreciation), 6% of sales. Assume that these expenses are paid monthly Depreciation is $747 pe month (indudes depreciation o Equipmen COS cash balance of at least $4.000 at the end of each month. The company has an agreement with a local bank that allows the company to bomow in increments mum $1,000 at the beginning of each month, up to a total loan balance of $20,000. The interest rate on ese loans is 1% per month and for simplicity we wi assume that interest is not compounded. The company would, as far as it is able, repay the loan plus accumulated interest at the end of the quarte