The following ratios have been computed for Concord Company for 2022. Profit margin ratio 20 % Current ratio 2.5 :1 Times interest earned 12 times Debt to assets ratio 24 % Accounts receivable turnover 5 times Use the above ratios and information from the Concord Company financial statements to fill in the missing information on the financial statements. The 2022 financial statements for Concord Company with missing information follows: CONCORD COMPANY Comparative Balance Sheet December 31, 2022 2021 Assets Cash $ 32,000 $ 44,800 Debt Investments 19,200 19,200 Accounts receivable (net) 38400 64,000 Inventory 64,000 Property, plant, and equipment (net) 256,000 204,800 Total assets $ $ 396800 Liabilities and stockholders' equity Accounts payable $ 19,200 $ 32,000 Short-term notes payable 44,800 38,400 Bonds payable 25,600 Common stock 256,000 256,000 Retained earnings 60,160 44,800 Total liabilities and stockholders' equity $ $396,800 CONCORD COMPANY Income Statement For the Year Ended December 31, 2022 Net sales $256,000 Cost of goods sold 128,000 Gross profit 128,000 Expenses: Depreciation expense $ Interest expense 6,400 Selling expenses 12,800 Administrative expenses 19,200 Total expenses Income before income taxes Income tax expense Income before income taxes Income tax expense Net income $