The following financial data are derived from the accounting system in the beginning of January:

$Accounts receivable23,000

Inventory24,200

Cash (overdraft)(7,000)

Dividend payable1,000

Equipment at cost80,000

Accumulated depreciation19,200

Long-term note payable 14% 40,000

Share capital40,000

Retained earnings20,000

ABC company expects the following results during the second quarter of the year (next three months):

Jan

150,000 Sales

100,000 Purchases

20,000 Expenses includingdepreciation

Feb

200,000 Sales

150,000 Purchases

25,000 Expenses includingdepreciation

Mar

300,000 Sales

280,000 Purchases

30,000 Expenses includingdepreciation

The company generates all revenues from sales on account and is able to collect all outstanding balances. Its collection pattern is as follows:

80% is collected during the month of sales (a 4% discount is given for payment in this period); and

the remaining 20% is collected in the following month.

The company pays for its purchase made in the month of purchase in order to take advantage of a 10% settlement discount, calculated on the gross purchase amount presented above. Inventory levels are expected to remain constant throughout the quarter. There is no fluctuation in price when the company purchases its inventory. Depreciation rate of the equipment is 12% on cost per year. Expenses are recorded on a monthly basis. Expenses are paid for in the month in which they are incurred. The declared dividend will be paid in Jan. There is no repayment of the long-term note during the quarter. Interest on the note for the quarter will be paid in March.

What is the total cash receipts for the quarter?

What is the total cash payments for the quarter?

What is the cash balance at the end of the quarter?

What is the gross profit for the quarter?

What is the net profit for the quarter?

What is the total current assets at the end of the quarter?

What is the total non-current assets at the end of the quarter?

What is the total liabilities at the end of the quarter?

What is the total shareholders' equity at the end of the quarter