Required information The Foundational 15 (Algo) [LO16-2, LO16-3, LO16-4, LO16-5, LO16-6] [The following information applies to the questions displayed below.] Markus Company's common stock sold for $5.00 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 Ending Balance Beginning Balance $ 45,000 $ 42,000 $ 90,000 $ 65,000 $ 72,100 $ 207,100 $ 766,000 $ 88,000 $ 90,000 $ 197,000 $ 836,400 $ 82,500 $ 196,000 $ 176,400 Common stock, $1 par value $ 159,000 $ 159,000 Total stockholders' equity Total liabilities and stockholders' equity $ 570,000 $ 660,000 $ 766,000 $ 836,400 This Year Sales (all on account) $ 1,045,000 Cost of goods sold $ 606,100 Gross margin $ 438,900 Net operating income $ 300,000 Interest expense $ 15,000 Net income $ 199,500