Presented below is an incomplete income statement and incomplete comparative statements of financial position of Crane ASA. Additional information: 1. The accounts receivable turnover for 2020 is 8 times. 2. All sales are on account. 3. The profit margin for 2020 is 14.5%. 4. Return on assets is 20% for 2020. 5. The current ratio on December 31, 2020, is 2.5. 6. The inventory turnover for 2020 is 4.9 times. Compute the missing information given the ratios above. (Note: Start with one ratio and derive as much information as possible from it before trying another ratio. List all missing amounts under the ratio used to find the information.) Crane ASA Income Statement V Net sales 8,400,000 Cost of goods sold Gross profit Operating expenses 1,200,000 Income from operations Interest expense Income before income taxes Income tax expense 440,000 Net income Crane ASA Statements of Financial Position Assets 2020 2019 Plant assets (net) 3,696,000 3,484,000 Current assets Inventory 1,376,000 Accounts receivable (net) 840,000 Cash 384,000 300,000 Total current assets 2,516,000 Total assets 6,000,000 Equity and Liabilities Share capital-ordinary, 1 par 2,400,000 2,400,000 Retained earnings 320,000 300,000 Total equity 2,720,000 2,700,000 Long-term notes payable 2,640,000 Current liabilities 660,000 Total liabilities 3,300,000 Total equity and liabilities 6,000,000