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The December 31, 2019, balance sheet for Baird Corporation ispresented here. These are the only accounts on Baird’s balancesheet. Amounts indicated by question marks (?) can be calculatedusing the following additional information:

BAIRD CORPORATION Balance Sheet As of December 31, 2019
Assets
Cash	$	20,000
Accounts receivable (net)		?
Inventory		?
Property, plant, and equipment (net)		295,000
	$	442,000
Liabilities and Stockholders’ Equity
Accounts payable (trade)	$	?
Income taxes payable (current)		20,000
Long-term debt		?
Common stock		301,000
Retained earnings		?
	$	?

Additional Information
Current ratio (at year end)	1.5 to 1.0
Total liabilities ÷ Total stockholders’ equity		70	%
Gross margin percentage		20	%
Inventory turnover (Cost of goods sold ÷ Ending inventory)		12.5	times
Gross margin for 2019	$	318,000

Required

1. Compute the balance in trade accounts payable as of December31, 2019.
2. Compute the balance in retained earnings as of December 31,2019.
3. Compute the balance in the inventory account as of December 31,2019. (Assume that the level of inventory did not change from lastyear.)

(For all requirements, negative amounts should beindicated by a minus sign. Do not round intermediate calculations.Round your answers to the nearest whole dollaramount.)

a.	accounts payable
b.	retained earnings
c.	inventory