$1.$ Determine a balance sheet for AB Electronics, using the following data.

The organization has little debt of $$850,000.$

The current balance of accounts payable is $$250,000.$

Federal taxes owed are $$120,000.$ State taxes owed are $$80,000.$ City taxes owed are $$50,000.$ Unemployment taxes owed are $$25,000.$ Real property taxes owed are $$25,000.$

The board of directors demands to have $90$ days cash on hand, which is $$250,000.$

Securities held are $$320,000.$

Accounts receivable are $$230,000.$

The organization has a positive balance with suppliers of $$5,000.$

Recent inventory indicates finished goods value to be $$700,000$; work in progress is $$300,000$; and raw materials are $$50,000.$

The property is valued at $$3,100,000.$

Depreciation$/$depletion of plant and equipment is $$2,250,000.$

$2.$Develop an end of year Income Statement for AB Electronics, using the following data.

The organization has retained earnings of $$1,500,000$ from the previous end of the year.

Gross sales for the year were $$5,000,000$ with refunds of $$200,000$ and refunds of $$50,000.$

Interest and income from off$-$site investments were $$150,000.$

Loan payments were $$250,000.$

Taxes are as in Problem $1,$ above.

The cost of goods sold is $$2,500,000.$

Depreciation on equipment is $$250,000.$

Sales bonuses and expenses are $$150,000.$

Administration costs are $$500,000.$

The board of directors voted for a $$3\mathrm{.}00$ per share dividend for the $250,000$ shares.

$3.$ For Problems $1$ & $2,$ above, compute all ratios as described in Table $8\mathrm{.}3,$ page $183.$

$4.$ Provide a one sentence comment as to the strengths and$/$or weakness of the organization with respect to each of the ratios as computed in Problem $3,$ above.