FRANKLIN CORPORATION

Balance Sheet As of December $31,$ Year $4$

Additional Information

Current ratio $($at year end$)$

Total liabilities $$ Total stockholders' equity

Gross margin percentage

Inventory turnover $($Cost of goods sold $$ Ending inventory$)$

Gross margin for Year $4$

Required

a$.$ Compute the balance in trade accounts payable as of December $31,$ Year $4.$

b$.$ Compute the balance in retained earnings as of December $31,$ Year $4.$

c$.$ Compute the balance in the inventory account as of December $31,$ Year $4.($Assume that the level of inventory did last year.$)$