The following data relate to the operations of Shilow Company, a wholesale distributor of consumer goods Current assets as of March 31: Cash $7,400 19,680 $39,000 126,000 23,175 $ 150,000 $ 18,825 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 Duly $ 49,000 65,000 $ 70,000 $ 95,000 $ 46,000