22-4A (Algo) Manufacturing: Preparation of a complete master budget LO P1, P2, P3 The management of Zigby Manufacturing prepared the following balance sheet for March 31. ZIGBY MANUFACTURING Balance Sheet March 31 Assets Liabilities and Equity Cash $ 120,000 Liabilities Accounts receivable 1,033,200 Accounts payable $ 603,000 Raw materials inventory 295,500 Loan payable 12,000 Finished goods inventory 976,620 Long-term note payable 1,500,000 $ 2,115,000 Equipment $ 1,800,000