Take the following information on a company and prepare its balance sheet just past the end of its fifth year. To make things simpler, also assume a year with $12$ months of exactly $30$ days each.

a$.$ The company has gross sales of $$110$ thousand per month and the pattern of sales is even, i$.$e$.$ there is no cyclical pattern to sales.

b$.$ COGS for the business is $50\%$ and is $75\%$ materials.

c$.$ There is enough raw material on hand to support $3$ months of manufacturing, and there are enough finished goods in the warehouse to accommodate $1$ month of orders.

d$.$ For simplicity, assume we have no work in progress.

e$.$ The company pays its suppliers one month after goods are received.

f$.$ Customers are large firms, which pay us $2$ months after we deliver our product.

g$.$ The owners started the business with an initial capital injection of $$1\mathrm{.}5$ million and a $$750$ thousand long$-$term bank loan, just over $5$ years ago.

h$.$ The bank loan principle is payable in $10$ equal annual payments, and the $5^{th}$ annual payment has recently been made.

i$.$ In the first $5$ years of the business, the company had a cumulative net income of $$500$ thousand, and paid dividends of $$50$ thousand for the first time this past year.

j$.$ Monthly payroll is $$40$ thousand, paid monthly. We're currently half way between pay cycles.

k$.$ All utilities and those types of bills have just recently been paid.

I. The company bought $$2$ million in assets at startup and picked a straightline depreciation period of $20$ years. No additional assets have been purchased.

$m.$ The business has $$500$ thousand in cash on hand and a short$-$term credit line that is paid down and$/$or drawn from based on the fluctuations of the business.

n$.$ There are no short or long term investments, no prepaid expenses, no goodwill, and no repayable grants, and taxes are up to date.

Notes:

Use the information provided in the problem statement to assign the quantities for the various accounts in the balance sheet below.

Calculate the required quantities to indicate the correct amount on each of blanks in the balance sheet for those accounts.

Express your quantities in your answer in thousands $($$$000).$

If needed, round your answer to $2$ decimal places.

Balance Sheet $-$ $$(000)$

Assets

Current Assets:

Cash e$.$g$.500$

Receivables

Short$-$Term Investments

Inventory

Prepaid Expenses

Fixed Assets:

Land, Bld$.$&Equip.@Cost

Less Accumulated Depreciation

Total Fixed Assets

Long$-$Term Investments

Liabilities

Current Liabilities:

Short$-$Term Credit

Line

Accounts Payable

Accrued Expenses

Taxes Payable

Current Portion

Long$-$Term Debt

Sum of the Current

Liability

Long Term Liabilities:

Repayable Grants

Long$-$Term Debt

Shareholders

Equity:

Capital Shares

Retained Earnings

Total Liabilities And

Total Assets