Assume you are an analyst evaluating Mesco Company. The following data are available in your financial analysis (unless otherwise indicated, all data are as of December 31, Year 5):

Retained Earnings, December 31, Year 4........$98,000
Gross profit margin ratio.....................................25%
Acid-test ratio.......................................................2.5 to 1
Noncurrent assets..............................................$280,000
Days' sales in inventory......................................45 days
Days' sales in receivables....................................18 days
Shareholders' equity to total debt.....................4 to 1
Sales (all on credit)..............................................$920,000

Common stock: $15 par value; 10,000 shares issued and outstanding; issued at $21 per share

Required:

Using these data, construct the December 31, Year 5, balance sheet for your analysis. Operating expenses (excluding taxes and cost of goods sold for Year 5) are $180,000. The tax rate is 40 percent. Assume a 360-day year in ratio computations. No cash dividends are paid in either Year 4 or Year 5. Current assets consist of cash, accounts receivable, and inventories.