$114,600 207,400 43,600 29,000 47,700 Budgeted Income Statement and Balance Sheet As a preliminary to requesting budget estimates of sales, costs, and expenses for the fiscal year beginning January 1, 2014, the following tentative trial balance as of December 31, 2013, is prepared by the Accounting Department of Regina Soap Co.: Cash Accounts Receivable) Finished Goods Work in Process Materials Prepaid Expenses 3,500 Plant and Equipment 586,800 Accumulated Depreciation-Plant and Equipment $252,300 4 Accounts Payable 206,800 Common Stock, $10 par 250,000 Retained Earnings 323.500 $1,032,600 $1,032,600 Factory output and sales for 2014 are expected to total 28,000 units of product, which are to be sold at $110 per unit. The quantities and costs of the inventories at December 31, 2014, are expected to remain unchanged from the balances at the beginning of the year.