The following data relate to the operations of Shilow Company, a wholesale distributor of consumer goods: Current assets as of March 31: $7,500 $ 20,000 $ 39,600 $ 127,200 $ 23,550 $ 150,000 $ 20,750 Cash Accounts receivable Inventory Building and equipment, net Accounts payable Common stock Retained earnings a. The gross margin is 25% of sales b. Actual and budgeted sales data March (actual) April May June July $ 50,000 $ 66,000 $ 71,000 $ 96,000 $ 47,000