3 5 points Problem 8-29 (Algo) Completing a Master Budget (LO8-2, LO8-4, LO8-7, LO8-8, LO8-9, LO8-10] The following data relate to the operations of Shilow Company, a wholesale distributor of consumer goods: Current assets as of March 31: Cash Accounts receivable Inventory $ 7,400 $ 19,600 $ 39,000 Building and equipment, net Accounts payable $ 126,000 $ 23,175 Print References Common stock Retained earnings a. The gross margin is 25% of sales. b. Actual and budgeted sales data: March (actual) April May June July $ 49,000 $ 65,000 $70,000 $ 95,000 $ 46,000 $ 150,000 $18,825