Question & Answer: The following data …………………..:…..

The following data relate to the operations of Shilow Company, a wholesale distributor of consumer goods Current assets as of March 31 $ 9,300 $ 27,200 $ 50,400 102,000 $ 30,300 150,000 $ 8,600 Cash Accounts receivable Inventory Building and equipment, net Accounts payable Capital stock Retained eamings a. The gross margin is 25% of sales. b. Actual and budgeted sales data March (actual) April May June July $68,000 $84,000 $89,000 $114,000 $65,000