You want to prepare some balance sheet and income statement information for Usher Inc. as of December $31,2023.$ Use the following information. All information pertains to fiscal $2023$ unless otherwise stated.

Assume there are $360$ days in the year

Assume the company has no debt

Retained earnings at December $31,2023$ is $$764,000$

Common stock including Addition Paid in Capital is $$500,000$ at the end of $2023$

In $2023$

Sales $($all credit sales$)$ are $$4\mathrm{.}2$ million

Gross margin is $60\%$

Net profit margin defined as net income after taxes is $8\%$ of sales

The tax rate is $20\%$

What is Cost of Goods sold

What is the gross profit

What is EBT $($Earnings Before Taxes$)$

What is OPEX $($Operating Expenses$)$

Receivable are collected in $35$ days

Net protit margin defined as net income atter taxes is $8\%$ of sales

The tax rate is $20\%$

What is Cost of Goods sold

What is the gross profit

What is EBT $($Earnings Before Taxes$)$

What is OPEX $($Operating Expenses$)$

Receivable are collected in $35$ days

What is AR

$$20,000$ of Dividends are paid in $2023$

What is equity at the end of $2023$

Assuming total assets are $5,700,000$ what are the total liabilities