Red Queen Restaurants wishes to prepare financial plans. Use financial statements and other information. To prepare the financial plans. The following financial data are also available:

Red Queen Restaurants Income Statement
for the Year Ended December 31, 2019
Sales revenue	$799,700
Less: Cost of goods sold	599600
Gross profits	$200,100
Less: Operating expenses	100800
Net profits before taxes	$99,300
Less: Taxes (21%)	20853
Net profits after taxes	$78,447
Less: Cash dividends	19200
To retained earnings	$59,247

Assets			Liabilities and Stockholders' Equity
Cash	$32,100		Accounts payable	$100,700
Marketable securities	18400		Taxes payable	19000
Accounts receivable	150100		Other current liabilities	4500
Inventories	100500		Total current liabilities	$124,200
Total current assets	$301,100		Long-term debt	$203,000
Net fixed assets	350100		Common stock	$149,000
			Retained earnings	$175,000
Total assets	$651,200		Total liabilities and equity	$651,200

Red Queen Restaurants Income Statement for the Year Ended December 31, 2019 Sales revenue Less: Cost of goods sold Gross profits Less: Operating expenses Net profits before taxes Less: Taxes (21%) Net profits after taxes Less: Cash dividends To retained earnings $799,700 599600 $200,100 100800 $99,300 20853 $78,447 19200 $59,247