Additional Information:

Budgets Incorporated includes: Land $50,000, Equipment $150,000, Common Shares $150,000 , Beginning Retained Earnings Balance $105,896.

Required:

Prepare the budgeted balance sheet for the next fiscal year.

ASSETS

Current Assets:

Cash

Accounts Receivable

Raw Materials Inventory

Finished Goods Inventory

Total Current Assets $-

Long Term Assets:

Land

Equipment

Total Long Term Assets $-

Total Assets $-

LIABILITIES & EQUITY

Accounts Payable

Common Shares

Retained Earnings ---------- > Beg RE

Total Liabilities & Equity Net Income

Dividends

End RE $-