The Dec. 31, 2012 balance sheet of De Jesus Inc. is presented below. These are the only accounts in its balance sheet. Amounts indicated by question mark (?) can be calculated from the additional information given :

Assets

CashP25,000

Accounts Receivable?

Inventory?

Property, Plant and Equipment294,000

Total432,000

Liabilities and Stockholders Equity

Accounts PayableP ?

Income Taxes Payable25,000

Long-term debt?

Common Stock 300,000

Retained Earnings?

Total?

Additional-Information:======

Current ratio (at year end)1.5:1

Debt/ Equity ratio0.8

Inventory turnover based on sales

and ending inventory15 times

Inventory turnover based on cost of

sales and Ending inventory10.5 times

Gross margin for 2012P315,000

1.The balance in trade accounts payable was:

a. P67,000b. P 92,000 c. P 182,000 d. P 207,000

2. The balance in Retained Earnings was:

a. P(60,000) b. P60,000 c. P132,000 d. (P132,000 )

3. The balance in Inventory account was:

a. P 138,000 b. P 70,000 c. P43,000d. P 135,000

4.The balance of accounts receivable was:

a.P 138,000 b. P60,000c. P43,000d. P34,000

5. The balance of long-term debt was:

a. P300,000 b. P192,000c. P100,000d. P230,000