You are requested to reconstruct accounts of Angel Trading for analysis. The following were available Gross margin for 2018 amounts.. P800,000 Beginning balance of Merchandise Inventory 250,000 Long-term liabilities consisted of Bonds Payable with interest rate of 16% Total Stockholders' Equity , Dec 31, 2018 1,200,000 Gross margin ratio ..... 40% Debt to equity ratio ... 1: 2 Times interest is earned 5 Quick ratio 1.5 :1 Ratio of operating expense to sales...... 20% Inventory turnover 6 times The bonds payble would be P Question. 625,000 100,000 600,000 500,000