a. As of December 31 (the end of the prior quarter), the company's general ledger showed the following account balances: Cash Credits Debits $48,000 Accounts receivable 224,000 Inventory 60,000 Buildings and equipment (net) 370,000 Accounts payable $93,000 Common stock 500,000 Retained earnings 109,000 $702,000 $702,000 b. Actual sales for December and budgeted sales for the next four months are as follows: December (actual) January February March April 000 10000 $280,000 $400,000 $600,000 $300,000 $200,000