Pepper Company provided the incomplete financial statements shown below as well as the following additional information:

All sales during the year were on account.

There was no change in the number of shares of common stock outstanding during the year.

The interest expense on the income statement relates to the bonds payable; the amount of bonds outstanding did not change during the year.

Selected balances at the beginning of the current year were:

Accounts receivable $ $100,000$

Inventory $ $220,000$

Total assets $ $2,570,000$

e$.$ Selected financial ratios computed from the statements below for the current year are:

Earnings per share $ $1\mathrm{.}92$

Debt$-$to$-$equity ratio $0\mathrm{.}800$

Accounts receivable turnover $16\mathrm{.}0$

Current ratio $2\mathrm{.}00$

Return on total assets $10\%$

Times interest earned ratio $7\mathrm{.}00$

Acid$-$test ratio $1\mathrm{.}13$

Inventory turnover $9\mathrm{.}0$

Required:

Compute the missing amounts on the company's financial statements. $($Hint: What$$s the difference between the acid$-$test ratio and the current ratio?$)($Do not round intermediate calculations.$)$ Compute the missing amounts on the company's financlal statements. $(H)$ current ratio?$)($Do not round Intermedlate calculatlons.$)$

$\backslash$table$[[$Pepper Industries$],[$Income Statement,$],[$For the Year Ended March $31,],[$Sales$,$$$2,500,000],[$Cost of goods sold,$],[$Gross margin,$],[$Selling and administrative expenses,$],[$Net operating income,$],[$Interest expense,$40,000],[$Net income before taxes,$],[$Income taxes $(30\%),],[$Net income,$]]$

$\backslash$table$[[$Pepper Industries,$],[$Balance Sheet,$],[$March $31],[$Current assets:,$],[$Cash$,],[$Accounts receivable, net,$],[$Inventory$,],[$Total current assets,$],[$Plant and equipment, net,$],[$Total assets,$],[$Liabilities:$,],[$Current liabilities,$],[$Bonds payable, $10\%,],[$Total liabilities,$],[$Stockholders$\text{'}$ equity:,$],[$Common stock, $$2\mathrm{.}60$ par value,$],[$Retained earnings,$],[$Total stockholders' equity,$],[$Total liabilities and stockholders' equity,$]]$