Financial statement construction via ratios. Incomplete financial statements of Lock Box Inc. are presented as follows:

LOCK BOX INC. Income Statement For the Year Ending December 31, 20X3
Sales	$ ?
Cost of Goods Sold	60.1%
Gross Profit	$ 15,000,000
Operating Expenses and Interest	?
Income Before Taxes	$ ?
Income taxes, 40%	?
Net income	$ ?

	LOCK BOX INC. Balance Sheet December 31, 20X3
	Assets
	Cash	$ ?
	Accounts Receivable	?
	Inventory	?
	Property, Plant, and Equipment	___8,000,000
	Total assets	$ 24,000,000
	Liabilities and Stockholders' Equity
	Accounts Payable	$ ?
	Notes Payable: Short-Term	600,000
	Bonds Payable	4,600,000
	Common Stock	2,000,000
	Retained Earnings	?
	Total Liabilities and Stockholders' Equity	$ 24,000,000
Questions	YOUR ANSWERS BASED UPON COURSE START DATE
LOCK BOX INC.
Income Statement
For the Year Ending December 31, 20X3
Sales
Cost of Goods Sold
Gross Profit
Operating Expenses and Interest
Income Before Taxes
Income taxes, 40%
Net income
LOCK BOX INC.
Balance Sheet
December 31, 20X3
Assets
Cash
Accounts Receivable
Inventory
Property, Plant, and Equipment
Total assets
Liabilities and Stockholders' Equity
Accounts Payable
Notes Payable: Short-Term
Bonds Payable
Common Stock
Retained Earnings
Total Liabilities and Stockholders' Equity

3. Financial statement construction via ratios. Incomplete financial statements of Lock Box Inc. are presented a s follows: LOCK BOX INC. Income Statement For the Year Ending December 31, 20X3 Sales $ ? Cost of Goods Sold 60.1% Gross Profit $ 15,000,000 Operating Expenses and Interest ? Income Before Taxes $ ? Income taxes, 40% ? Net income $ ? LOCK BOX INC. Balance Sheet December 31, 20X3 Assets Cash $ ? Accounts Receivable ? Inventory ? Property, Plant, and Equipment ___8,000,000 Total assets $ 24,000,000 Liabilities and Stockholders' Equity Accounts Payable $ ? Notes Payable: Short-Term 600,000 Bonds Payable 4,600,000 Common Stock 2,000,000 Retained Earnings ? Total Liabilities and Stockholders' Equity $ 24,000,000 Questions YOUR ANSWERS BASED UPON COURSE START DATE LOCK BOX INC. Income Statement For the Year Ending December 31, 20X3 Sales Cost of Goods Sold Gross Profit Operating Expenses and Interest Income Before Taxes Income taxes, 40% Net income LOCK BOX INC. Balance Sheet December 31, 20X3 Assets Cash Accounts Receivable Inventory Property, Plant, and Equipment Total assets Liabilities and Stockholders' Equity Accounts Payable Notes Payable: Short-Term Bonds Payable Common Stock Retained Earnings Total Liabilities and Stockholders' Equity