The December 31, Year 4, balance sheet for Rooney Corporation is presented here. These are the only accounts on Rooney's balance sheet. Amounts indicated by question marks (?) can be calculated using the following additional information: ROONEY CORPORATION Balance Sheet As of December 31, Year 4 Assets Cash $ 34,000 Accounts receivable (net) ? Inventory ? Property, plant, and equipment (net) 302,000 $442,000 Liabilities and Stockholders' Equity Accounts payable (trade) $ ? Income taxes payable (current) 34,000 Long-term debt ? Common stock 308,000 Retained earnings ? $ 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 1.4 to 1.0 60% 40% 9.5 times $323,000 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 C