The following information is available about the company:

a.	All sales during the year were on account.
b.	There was no change in the number of shares of common stockoutstanding during the year.
c.	The interest expense on the income statement relates to thebonds payable; the amount of bonds outstanding did not change during the year.
d.	Selected balances at the beginning of the current yearwere:

Accounts receivable	$	220,000
Inventory	$	330,000
Total assets	$	1,415,000

e.	Selected financial ratios computed from the statements belowfor the current year are:

Earnings per share	$	3.06
Debt-to-equity ratio		0.880
Accounts receivable turnover		15.0
Current ratio		2.00
Return on total assets		12	%
Times interest earned ratio		6.0
Acid-test ratio		1.19
Inventory turnover		9.0

Required:

Compute the missing amounts on the company's financialstatements. (Hint: What’s the difference between theacid-test ratio and the current ratio?) (Do not roundintermediate calculations.)

	Pepper Industries Income Statement For the Year Ended March 31 Sales $3,600,000 Cost of goods sold Gross margin Selling and administrativeexpenses Net operating income Interest expense 51,000 Net income before taxes Income taxes (40%) Net income

	Pepper Industries Balance Sheet March 31 Current assets: Cash Accounts receivable, net Inventory Total current assets Plant and equipment, net Total assets Liabilities: Current liabilities $260,000 Bonds payable, 10% Total liabilities Stockholders’ equity: Common stock, $2.50 par value Retained earnings Total stockholders’ equity Total liabilities andstockholders equity