Sanchez Company engaged in the following transactions during Year 1: 1) Started the business by issuing $13,900 of common stock for cash. 2) The company paid cash to purchase $8,300 of inventory. 3) The company sold inventory that cost $5,700 for $11,900 cash. 4) Operating expenses incurred and paid during the year, $5,200. Sanchez Company engaged in the following transactions during Year 2: 1) The company paid cash to purchase $12,200 of inventory. 2) The company sold inventory that cost $9,900 for $18,500 cash. 3) Operating expenses incurred and paid during the year, $6,200. Note: Sanchez uses the perpetual inventory system. What is the amount of inventory that will be shown on the balance sheet at December 31, Year 2? Sanchez Company engaged in the following transactions during Year 1: 1) Started the business by issuing $13,900 of common stock for cash. 2) The company paid cash to purchase $8,300 of inventory. 3) The company sold inventory that cost $5,700 for $11,900 cash. 4) Operating expenses incurred and paid during the year, $5,200. Sanchez Company engaged in the following transactions during Year 2: 1) The company paid cash to purchase $12,200 of inventory. 2) The company sold inventory that cost $9,900 for $18,500 cash. 3) Operating expenses incurred and paid during the year, $6,200. Note: Sanchez uses the perpetual inventory system. What is Sanchez's gross margin for Year 2? Sanchez Company engaged in the following transactions during Year 1: 1) Started the business by issuing $13,900 of common stock for cash. 2) The company paid cash to purchase $8,300 of inventory. 3) The company sold inventory that cost $5,700 for $11,900 cash. 4) Operating expenses incurred and paid during the year, $5,200. Sanchez Company engaged in the following transactions during Year 2: 1) The company paid cash to purchase $12,200 of inventory. 2) The company sold inventory that cost $9,900 for $18,500 cash. 3) Operating expenses incurred and paid during the year, $6,200. Note: Sanchez uses the perpetual inventory system. What is the amount of retained earnings that will be shown on the balance sheet at December 31, Year 2