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Albert Corporation estimates above the business needs 4 percent of revenues as a cash balance, 1 1 percent of revenues as an inventory balance, 6

Albert Corporation estimates above the business needs 4 percent of revenues as a cash balance, 11 percent of revenues as an inventory balance, 6 percent of revenues an accounts payable balance, and 5 percent of revenues as accrued expenses balance. All these balances would be needed at the beginning of each year and are estimated from the year-end annual estimates of revenues and cash expenses given below:
Year
1
2
3
Revenues
$100,000
$150,000
$200,000
Please calculate the account balances for cash, inventory, accounts payable, and accrued expenses for years 0,1,2.

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