Financial information of Moonta Corporation is given the following:

Total Sales on Account 900 000

Total Cash 30 000

Total non-current asset 370 000

Net Profit Margin 10%

Inventory Turnover 4 times

Debt ratio 40%

No. of days collection period 73 days (based on 365 days)

Gross profit margin 40%

Current ratio 3:0:1

Requirement: Make an income statement and balance sheet with complete details and show all necessary computations