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The December 3 1 , Year 4 , balance sheet for Campbell Corporation is presented here. These are the only accounts on Campbell's balance sheet.
The December Year balance sheet for Campbell Corporation is presented here. These are the only accounts on Campbell's
balance sheet. Amounts indicated by question marks can be calculated using the following additional information:
Additional Information
Current ratio at year end
Total liabilities Total stockholders' equity
Gross margin percentage
Inventory turnover Cost of goods sold Ending inventory times
Gross margin for Year
$
Required
a Compute the balance in trade accounts payable as of December Year
b Compute the balance in retained earnings as of December Year
c Compute the balance in the inventory account as of December Year Assume that the level of inventory did not change from
last year.
For all requirements, negative amounts should be indicated by a minus sign. Do not round intermediate calculations. Round your
answers to the nearest whole dollar amount.
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