The following data relate to the operations of Lim Corporation, a wholesale distributor of consumer goods:

a. The gross margin is 30% of sales

b. Actual and budgeted sales data are as follows:

Current assets as of December 31: $ 6,000 36,000 9,800 110,885 32,550 100,000 30,135 Cash Accounts receivable Inventory Buildings and equipment, net Accounts payable Common shares Retained earnings