5 The December 31, Year 4, balance sheet for Perez Corporation is presented here These are the only accounts on Perezs balance sheet Amounts indicated by question marks ( ) can be calculated using the following additional information PEREZ CORPORATION Balance Sheet As of December 31, Year 4 Assets Cash $32,000 Accounts receivable (net) Inventory Property, plant, and equipment (net) 300,000 $450,000 Liabilities and Stockholders Equity Accounts payable (trade) $ Income taxes payable (current) 32,000 Long term debt Common stock 306,000 Retained earnings $ Additional Information Current ratio (at year end) 1 6 to 1 0 Total liabilities Total stockholders equity 80 Gross margin percentage 40 Inventory turnover (Cost of goods sold Ending inventory) 12 5 times Gross margin for Year 4 $350,000 Required Compute the balance in trade accounts payable as of December 31, Year 4 Compute the balance in retained earnings as of December 31, Year 4 Compute the balance in the inventory account as of December 31, Year 4 (Assume that the level of inventory did not change from last year ) (For all requirements, negative amounts should be indicated by a minus sign Do not round intermediate calculations Round your answers to the nearest whole dollar amount )

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5. The December 31, Year 4, balance sheet for Perez Corporation is presented here. These are the only accounts on Perezs balance sheet. Amounts indicated

5. The December 31, Year 4, balance sheet for Perez Corporation is presented here. These are the only accounts on Perezs balance sheet. Amounts indicated by question marks (?) can be calculated using the following additional information.

PEREZ CORPORATION
Balance Sheet As of December 31, Year 4
Assets
Cash	$32,000
Accounts receivable (net)	?
Inventory	?
Property, plant, and equipment (net)	300,000
	$450,000
Liabilities and Stockholders Equity
Accounts payable (trade)	$?
Income taxes payable (current)	32,000
Long-term debt	?
Common stock	306,000
Retained earnings	?
	$?

Additional Information

Current ratio (at year end)	1.6 to 1.0
Total liabilities Total stockholders equity	80%
Gross margin percentage	40%
Inventory turnover (Cost of goods sold Ending inventory)	12.5	times
Gross margin for Year 4	$350,000

Required

Compute the balance in trade accounts payable as of December 31, Year 4.
Compute the balance in retained earnings as of December 31, Year 4.
Compute the balance in the inventory account as of December 31, Year 4. (Assume that the level of inventory did not change from last year.)

(For all requirements, negative amounts should be indicated by a minus sign. Do not round intermediate calculations. Round your answers to the nearest whole dollar amount.)