Problem 7-7A You are provided with the following information taken from Marin Inc's March 31, 2017, balance sheet. Cash Accounts receivable Inventoy Property, plant, and equipment, net of depreciation Accounts payable Common stock Retained earnings Level $ 11,610 22,920 37,440 120,700 23,340 151,300 12,240 Additional information concerning Marin Inc. is as follows Gross profit is 27% of sales. 2. Actual and budgeted sales data: March (actual) April (budgeted) $46,700 71,900 Sales are both cash and credit. Cash collections expected in April are: March 3. $18,680 43,140 $61,820 (40% of $46,700) (60% of $71,900) April manth Cash di