4 Lamonte Company reports the following budgeted December 31 adjusted trial balance. Cash Debit Credit $ 50,000 120,000 64,000 125,000 $ 25,000 34,000 Part 2 of 2 Accounts receivable Merchandise inventory Equipment Accumulated depreciation-Equipment Accounts payable Loan payable Common stock Retained earnings (beginning year balance) Sales Cost of goods sold Loan interest expense Depreciation expense Salaries expense Totals 360,000 8,000 10,000 122,000 22,000 200,000 58,000 520,000 $ 859,000 $ 859,000 The ending year balance of Retained earnings was $78,000 on December 31. Prepare Lamonte Company's budgeted balance sheet as of December 31. Total Assets Total liabilities Total Equity Total Liabilities and Equity LAMONTE COMPANY Budgeted Balance Sheet December 31 Assets Liabilities Equity 0