Presented below is an incomplete income statement and an incomplete comparative balance sheet of Bondi Corporation.

BONDI CORPORATION
Income Statement
For the Year Ended December 31, 2013
Net sales	$11,000,000
Cost of goods sold	?
Gross profit	?
Operating expenses	1,665,000
Income from operations	?
Other expenses and losses
Interest expense	?
Income before income taxes	?
Income tax expense	560,000
Net income	$ ?

	BONDI CORPORATION
	Balance Sheets
	December 31
Assets	2013	2012
Current assets
Cash	$ 450,000	$ 375,000
Accounts receivable (net)	?	950,000
Inventory	?	1,720,000
Total current assets	?	3,045,000
Plant assets (net)	4,620,000	3,955,000
Total assets	$ ?	$7,000,000
Liabilities and Stockholders Equity
Current liabilities	$ ?	$ 825,000
Long-term notes payable	?	2,800,000
Total liabilities	?	3,625,000
Common stock, $1 par	3,000,000	3,000,000
Retained earnings	400,000	375,000
Total stockholders equity	3,400,000	3,375,000
Total liabilities and stockholders equity	$ ?	$7,000,000

Additional information:

1. The receivables turnover for 2013 is 10 times.

2. All sales are on account.

3. The profit margin for 2013 is 14.5%.

4. Return on assets is 22% for 2013.

5. The current ratio on December 31, 2013, is 3.0.

6. The inventory turnover for 2013 is 4.8 times.

Instructions

Compute the missing information given the ratios above. Show computations. (Note: Start with one ratio and derive as much information as possible from it before trying another ratio. List all missing amounts under the ratio used to find the information.)