The December 31, Year 4, balance sheet for Walton Corporation is presented here. These are the only accounts on Waltons balance sheet. Amounts indicated by question marks (?) can be calculated using the following additional information:

WALTON CORPORATION Balance Sheet As of December 31, Year 4
Assets
Cash	$	35,000
Accounts receivable (net)		?
Inventory		?
Property, plant, and equipment (net)		305,000
	$	452,000
Liabilities and Stockholders Equity
Accounts payable (trade)	$	?
Income taxes payable (current)		35,000
Long-term debt		?
Common stock		311,000
Retained earnings		?
	$	?

Additional Information
Current ratio (at year end)	1.4 to 1.0
Total liabilities Total stockholders equity		60	%
Gross margin percent		40	%
Inventory turnover (Cost of goods sold Ending inventory)		10.5	times
Gross margin for Year 4	$	350,000

a.	Accounts payable
b.	Retained earnings
c.	Inventory