The balance sheet for Revolution Clothiers is shown below. Sales for the year were $$3,810,000,$ with $75$ percent of sales sold on credit.REVOLUTION CLOTHIERSBalance Sheet $20$X$1$AssetsLiabilities and EquityCash$ $95,000$Accounts payable$ $248,000$Accounts receivable$290,000$Accrued taxes$143,000$Inventory$315,000$Bonds payable $($long$-$term$)168,000$Plant and equipment$453,000$Common stock$100,000$ Paid$-$in capital$150,000$ Retained earnings$344,000$Total assets$ $1,153,000$Total liabilities and equity$ $1,153,000$

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