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

Additional Information:

1.		The receivables turnover for 2014 is 10 times.
2.		All sales are on account.
3.		The profit margin for 2014 is 14.5%.
4.		Return on assets is 20% for 2014.
5.		The current ratio on December 31, 2013, is 3.
6.		The inventory turnover for 2014 is 4.2 times.

Compute the missing information given the ratios above. (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.)

BONDI CORPORATION Balance Sheets December 31
Assets		2014		2013
Current assets
Cash		$ 480,000		$ 375,000
Accounts receivable (net)				950,000
Inventory				1,720,000
Total current assets				3,045,000
Plant assets (net)		4,620,000		4,455,000
Total assets		$		$7,500,000

Assets		2014		2013
Current liabilities				825,000
Long term notes payable				3,300,000
Total Liabilities				4,125,000
Common stock, $1 par				1,720,000
Total current assets		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				7,500,000