You are trying to prepare financial statements for ABC Company, but seem to be missing its balance sheet. You have ABCs income statement, which shows sales last year were $420 million with a gross profit margin of 40 percent. You also know that credit sales equaled three-quarters of ABCs total revenues last year. In addition, ABC had a collection period of 55 days, a payables period of 40 days, and an inventory turnover of 8 times based on cost of goods sold. Calculate ABCs year-ending balance for:

a. accounts receivable

b. inventory

c. accounts payable..

Please show your step by step calculations