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The summary financial statements of Pedro Ltd on December 31, 2018, are as follows: Cash $ 37,500 A/R Inventory PPE, net Total A/P Tax/P

The summary financial statements of Pedro Ltd on December 31, 2018, are as follows: Cash $ 37,500 A/R

The summary financial statements of Pedro Ltd on December 31, 2018, are as follows: Cash $ 37,500 A/R Inventory PPE, net Total A/P Tax/P (current) LT-debt C/5 R/E Total Additional information: Current ratio at year-end TL/TE ? ? Gross profit for 2018 was $472,500. Hint: R/E can be negative. 441.000 $648,000 ? 37,500 ? 450,000 $648,000 Inventory turnover based on sales and El [(Sales/El) = 15] Inventory turnover based on CGS and EI [(CGS/EI) = 10.5] Required: Calculate the December 31, 2018, balance for each missing item. I 1.5 to 1 0.8 15 times 10.5 times

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