and pays it one month later (i.e. the March dividend is paid April 30 , the June dividend is paid July 31", etc.) The balance sheet at March 31st is given below: Assets Cash $ 25,000 Accounts receivable 92,000 Inventory, red cedar lumber (raw materials) 14,700 Inventory, tables (finished goods) 82.500 Prepaid insurance 13,500 Fixed assets 270,000 Accumulated depreciation (162.000) 108.000 Total Assets 335,700 Liabilities and Shareholder's Equity Accounts payable, purchases 10,800 Dividends payable 5,000 Capital stock 15,000 Retained earnings 304,900