On January 1, 2018, Displays Incorporated has the following account balances 42,000 39,000 45,000 77,000 247,000 Supplies InventoEY Land Accounts Payable otes Payable 17, due next rear) Conmon Stoek Retained Earnings 58,000 40,000 206,000 439433833. Totals 450,000 450,000 From January 1 to December 31, the following summary transactions occur a Purchased inventory on account for $350.000 b. Sold inventory on account for $670,000. The cost of the inventory sold was $330,000 c. Received $596,000 from customers on accounts receivable. d. Paid freight on inventory received, $44,000 e. Paid $340,000 in to inventory suppliers on accounts payable of $349.000. The difference reflects purchase discounts of $9,000 Paid rent for the current year, $62,000 g Paid salaries for the current year, $170.000 Year-end adjusting entries a Supplies on hand at the end of the year are $8,000 b. Accrued interest expense on notes payable for the year c Accrued income taxes at the end of January are $38.000 Answer is not complete. cmeetAnayas above, complete the Analysis. (Calculate the ratios to the General Trial Balance Statement Using the information from the requirements place.) i nearest 1 decimal (a) Sappose Displays incorporated decided to maintain its intemal records using FIF aiurring tre endng bstance of nvertory uder LFO wold have been $120,00. calculate h. uro O but to use LIFO for external repoing Assume Displays incorporated $80,000 beginning balance of inventory comes from the base year with a cost index o 1. The Calculate t he amount the company would report for inventory using dolla value LIFO of the amounts bolow would be higher or lower when reporting inventory using LIFO (or dolar vale LFO) instaed of FFO in periods of Hsing invantory costs and