The following information is available for Pepper Industries. a. All sales during the year were on account. b. There was no change in the number of shares of common stock outstanding during the year. c. The interest expense on the income statement relates to the bonds payable; the amount of bonds outstanding did not change during the year. d. Selected balances at the beginning of the current year were: Accounts receivable $270,000 Inventory $622,300 Total assets $4,485,000 e. Selected financial ratios computed from the statements for the current year are: Earnings per share $2.63 Debt-to-equity ratio 0.7845 Accounts receivable turnover 15.00 Current ratio 2.90 Return on total assets 12 % Times interest earned ratio 8.40 Acid-test ratio 2.20 Inventory turnover 5.70 Required: 1. Compute the missing amounts on the company's financial statements. (Round average number of common shares outstanding to nearest thousand, Debt-to equity ratio to 3 decimal places, Total stockholders' equity to nearest thousand and your final answers to the nearest whole dollar amount. Omit the "$" sign in your response.) Pepper Industries Income Statement For the Year Ended March 31 Sales $4,500,000 Cost of goods sold Gross margin Selling and administrative expenses Net operating income Interest expense 69,000 Net income before taxes Income taxes (30%) Net income $ -------------------------------------------------------------------------------- 2. Pepper Industries Balance Sheet March 31 Current assets: Cash $ Accounts receivable, net Inventory Total current assets Plant and equipment Total assets $ Liabilities: Current liabilities $311,000 Bonds payable, 10% Total liabilities Stockholders' equity: Common stock, $5 par value Retained earnings Total stockholders' equity Total liabilities and equity $