Required information [The following information applies to the questions displayed below.) Markus Company's common stock sold for $4.00 per share at the end of this year. The company paid a common stock dividend of $0.80 per share this year. It also provided the following data excerpts from this year's financial statements: Cash Accounts receivable Inventory Current assets Total assets Current liabilities. Total liabilities Common stock, $1 par value Total stockholders' equity Total liabilities and stockholders' equity. Ending Balance $ 45,500 Beginning Balance $ 39,200 $ 82,000 $ 67,600 $ 195,100 $ 648,000 $ 72,500 $ 188,000 $145,000 $ 460,000 $ 648,000 $ 61,200 $ 82,000 $ 182,400 $ 689,200 $ 73,500 $ 169,200 $145,000 $520,000 $ 689,200 This Year Sales (all on account) $ 900,000 $ 522,000 $ 378,000 Cost of goods sold Gross margin Net operating income Interest expense Net income $ 228,000 $ 12,000 $ 151,200 Required information [The following information applies to the questions displayed below.) Markus Company's common stock sold for $4.00 per share at the end of this year. The company paid a common stock dividend of $0.80 per share this year. It also provided the following data excerpts from this year's financial statements: Cash Accounts receivable Inventory Current assets Total assets Current liabilities. Total liabilities Common stock, $1 par value Total stockholders' equity Total liabilities and stockholders' equity. Ending Balance $ 45,500 Beginning Balance $ 39,200 $ 82,000 $ 67,600 $ 195,100 $ 648,000 $ 72,500 $ 188,000 $145,000 $ 460,000 $ 648,000 $ 61,200 $ 82,000 $ 182,400 $ 689,200 $ 73,500 $ 169,200 $145,000 $520,000 $ 689,200 This Year Sales (all on account) $ 900,000 $ 522,000 $ 378,000 Cost of goods sold Gross margin Net operating income Interest expense Net income $ 228,000 $ 12,000 $ 151,200