The December 31, 2012, balance sheet for Kessler Inc. is presented here. These are the only accounts on Kesslers balance sheet. Amounts indicated by question marks (?) can be calculated using the additional information following the balance sheet.

Assets Cash$21,000 Accounts receivable (net) ? Inventory ? Property, plant, and equipment (net) 288,000 $432,000 Liabilities and Stockholders Equity Accounts payable (trade)$? Income taxes payable (current) 25,000 Long-term debt ? Common stock 290,000 Retained earnings ? $?

Additional Information Current ratio (at year end) 1.5 to 1.0 Total liabilities Total stockholders equity .8 Gross margin percent 25 % Inventory turnover (Cost of goods sold Ending inventory) 11.0 times Gross margin for 2012$286,000

a) Determine the balance in trade accounts payable as of december 31 2012

Current assets	$
Current liabilities	$
Accounts payable	$

(b)

Determine the balance in retained earnings as of December 31, 2012. (Round your answer to the nearest whole dollar amount.

C) Determine the balance in the inventory account as of december 31, 2012

Sales	$
Cost of goods sold	$
Inventory	$