Saved omprehensive Problem The following data relate to the operations of Shilow Company, a wholesale distributor of consumer goods: Cureent assets as of March 31: $ 8,4ee $ 23,600 s 45,000 $ 123,600 $ 26,925 s 150,00d 5 23,675 Cash Accounts receivable Inventory Building and equipment, net Accounts payable Common stock setained earnings a. The gross margin is 25% of sales. b Actual and budgeted sales data: $ 59,0e0 75,0e 5 ee,00e s 1es.eoe 5 56,0ee Rarch (actual) Apri Zune luly c sales are 60% tor cash and 40% on credit Credit sales are collected in the month following sale 31 are a result of March credit sales The accounts, Prey 1ofE N