The December 31 Year 4. balance sheet for Jordan Corporation is preserved here. These are the only accounts on Jordan's bance sheet Amounts indicated by question marks can be calculated using the following additional formation JOCONFORATION alance Sheet December 31 Assets Cash 1 Accounts receivable Chut) Inventory Party, unt, and want to 51,00 Lies and Stacheldrar qulay Accounts payable cade) | 4 | | | | | | | | | | | | | | 20.00 for Conce 382,00 din Motion Curretratie (at year) Total Tatilities foto stochastity Grossmarc percentage Inventore ver cost of India in Grow margin for Required Compute the balance in trade accounts payasitas of December 1 Year 4 b. Compute the balance in refined ings as of December 31. Year c. Comoute the balance in the inventory accounts of December Year 4 Assume that the love of inventory did not change from 10 Next > National Information Current ratio (ot year end) Total liabilities. Total stockholders' equity Gross margin percentage Inventory turnover (Cost of goods sold Ending inventory Gross margin for Year 4 1.5 to 1.0 60 50% 10.4 tis $190,000 Required a. Compute the balance in trade accounts payable as of December 31 Year 4. b. Compute the balance in retained earnings as of December 31 Year 4 c. Compute the balance in the inventory account as of December 31. Year 4. (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.) a Accounts payablo b Retained eamings c Inventory The December 31, Year 4. balance sheet for Jordan Corporation is presented here. These are the only accounts on Jordan's balance sheet. Amounts indicated by question marks (9) can be calculated using the following additional Information: JORDAN CORPORATION Balance Sheet As of December 31, Year 4 Assets Cash Accounts receivable (net) Inventory Property, plant, and equipment (net) $ 40,000 306.000 $444,000 $ Liabilities and Stockholders Equity Accounts payable (trade) Income taxes payable (current) Long-tere debt Common stock Retained earnings 40,000 312,000 $ 1.5 to 1.0 603 Additional Information Current ratio (at year end) Total liabilities - Total stockholders equity Gross margin percentage Inventory turnover (Cost of goods sold. Ending inventory) Gross margin for Year 4 30% 10.4 times $390,000 Required a. Compute the balance in trade accounts payable as of December 31, Year 4. Additional Information Current ratio (at year end) Total liabilities. Total stockholders' equity Gross margin percentage Tnventory turnover (Cost of goods sold Ending inventory) Gross margin for Year 4 1.5 to 1.0 60% 30% 10.4 times $390,000 Required a. Compute the balance in trade accounts payable as of December 31, Year 4. b. Compute the balance in retained earnings as of December 31, Year 4 c. Compute the balance in the inventory account as of December 31, Year 4. (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.) a b Accounts payable Retained earnings Inventory
