The summary financial statements of Petro Ltd on December 31, 2018, are as follows:

Cash $ 25,000

A/R ?

Inventory ?

PPE, net 294,000

Total $432,000

A/P ?

Tax/P (current) 25,000

LT-debt ?

C/S 300,000

R/E ?

Total $432,000

Additional information:

Current ratio at year-end 1.5 to 1

TL/TE 0.8

Inventory turnover based on sales and EI [Sales/EI] 15 times

Inventory turnover based on CGS and EI [CGS/EI] 10.5 times

Gross profit for 2018 was $315,000.

Hint: R/E can be negative.

Required:

Calculate the December 31, 2018 balance for each missing item.