Low Company's December $31,2029$ balance sheet included

the following accounts:

ASSETS:

LIABILITIES:

Accounts payable $..........$ $$74,000$

Notes payable $............$ $$50,000($see note below$)$

Salaries payable $..........$ $$26,000$

EQUITY:

Common stock $.............?$

Retained earnings $........?$

Low Company reported the following financial statement

ratios at December $31,2029$:

Current ratio $............2\mathrm{.}10$

Acid$-$test ratio $...........1\mathrm{.}04$

Note:

The note payable is a four$-$year loan that was taken

out on March $1,2026.$

Calculate the balance in the inventory account at

December $31,2029.$