You are provided with the following information taken from Marin Inc.'s March 31, 2017, balance sheet el Cash 11,610 Accounts receivable Inventory Property, plant, and equipment, net of depreciation Accounts payable Common stock Retained earnings 37,440 120,700o 23,340 151,300 12,240 Additional information concerning Marin Inc, is as follows. Gross profit is 27% of sales. Actual and budgeted sales data March (actual) April (budgeted) 2. $46,700 71,900 Sales are both cash and credit. Cash collections expected in April are March 3. $18,680 43,140 $61,820 (40% of $46,700) (60% of $71,900)