Incomplete income statement and comparative statements of financial position for the ABC Company are provided below:

Additional information for the year 2019

1. All sales are on account

2. Acid test ratio = 1.5:1

3. Profit Margin = 18%

4. Return on Assets = 30%

5. Current Ratio = 9.0

6. Inventory turnover = 4 times

Required

a. Determine the missing values

(Hint: Calculate the tax rate)

Statements of Financial Position
Assets	2019	2018
Plant assets (net)	3,696,010	3,564,010
Current assets
Inventory	____	1,376,010
Accounts receivable (net)	150,000	760,010
Cash	____	300,010
Total current assets	____	2,436,010
Total assets	____	6,000,010
Equity and Liabilities 2014 2013
Share capital	1,285,998	2,400,010
Retained earnings	1,434,011	300,010
Total equity	2,720,010	2,700,010
14-month notes payable	____	2,640,010
Six-month notes payable	____	660,010
Total liabilities	____	3,300,010
Total equity and liabilities	____	6,000,010
Income Statement
For the Year Ended December 31, 2019
Sales	8,552,010
Sales discount	152,000
Cost of goods sold	3992007
Gross profit	4408003
Operating expenses	1,200,010
Income from operations	3207993
Interest expense	1242392
Income before income taxes	1965602
Income tax expense	453,600
Net income	____