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		$ 22,000		$ 30,800
Debt Investments		13,200		13,200
Accounts receivable (net)		Enter a dollar amount		44,000
Inventory		Enter a dollar amount		44,000
Property, plant, and equipment (net)		176,000		140,800
Total assets		$Enter a total dollar amount for this section		$Enter a total dollar amount for this section
Liabilities and stockholders' equity
Accounts payable		$ 13,200		$ 22,000
Short-term notes payable		30,800		26,400
Bonds payable		Enter a dollar amount		17,600
Common stock		176,000		176,000
Retained earnings		41,360		30,800
Total liabilities and stockholders' equity		$Enter a total dollar amount for this section		$272,800

CONCORD COMPANY Income Statement For the Year Ended December 31, 2022
Net sales					$176,000
Cost of goods sold					88,000
Gross profit					88,000
Expenses:
	Depreciation expense		$Enter a dollar amount
	Interest expense		4,400
	Selling expenses		8,800
	Administrative expenses		13,200
	Total expenses				Enter total expenses in dollars
Income before income taxes					Enter a dollar amount
	Income tax expense				Enter a dollar amount
Net income					$Enter a total dollar amount for this statement