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The following information is available about the company:

a.	Selected financial ratios computed from Tanners financial statements are given below:

Current ratio		2.60
Acid-test ratio		1.19
Accounts receivable turnover		16.0
Inventory turnover		6.0
Debt-to-equity ratio		0.900
Times interest earned		8.0
Earnings per share	$	4.83
Return on total assets		12	%

b.	All sales during the year were on account.
c.	The interest expense on the income statement relates to the bonds payable; the amount of bonds outstanding did not change throughout the year.
d.	There were no changes in the number of shares of common stock outstanding during the year.

e.	Selected balances at the beginning of the current year (January 1) were as follows:

Accounts receivable	$	160,000
Inventory	$	280,000
Total assets	$	2,160,000

Required:

Compute the missing amounts on the company's financial statements. (Input all amounts as positive values. Round your final answers to the nearest whole dollar amount.)

Tanner Company Income Statement For the Year Ended December 31
Sales	$3,100,000
Cost of goods sold	____?______
Gross margin	_____?______
Selling and administrative expenses	_____?______
Net operating income	______?______
Interest expense	46,000
Net income before taxes	________?_____
Income taxes (40%)	________?____
Net income	?____________$

Tanner Company Balance Sheet December 31
Current assets:
Cash	_____?_____$
Accounts receivable, net	_____?______
Inventory	______?______
Total current assets	_____?______
Plant and equipment, net	______?______
Total assets	_____?_____$
Current liabilities	$260,000
Bonds payable, 10%	____?______
Total liabilities	______?_____
Stockholders' equity:
Common stock, $2.60 par value	_______?_____
Retained earnings	________?_____
Total stockholders' equity	________?_____
Total liabilities and stockholders equity	________?____$

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