PROBLEM #9 The December 31, 2019 balance sheet of RCR Corp is presented below. These are the only accounts in RCR's balance sheet. P25,000 ? Cash Accounts Receivable Inventory Plant & Equipment ? ? 294,000 Accounts Payable Income Taxes Payable Long Term Debt Common Stock Retained Earnings Total Liabilities & Equity 20,000 100,000 200,000 ? Total Assets 432.000 ? Additional information: 1.5 to 1 0.8 15 times Current ratio (at year end) Debt to equity ratio Inventory turnover based on sales and ending inventory Inventory turnover based on cost of goods sold and ending inventory Gross margin for the year 1. What was RCR's December 31, 2019 balance in inventory account? 2. What was RCR's December 31, 2019 balance in Accounts Receivable? 3. What was RCR's December 31, 2019 balance in Retained Earnings? 11 times P 320,000