Assets ZIGBY MANUFACTURING Balance Sheet March 31 Liabilities and Equity Cash Accounts receivable $ 69,000 Liabilities: 390,600 Accounts payable Raw materials inventory Finished goods inventory 86,000 Loan payable 348,480 Long-term note payable Equipment $ 614,000 Equity Less: Accumulated depreciation 157,000 457,000 Common stock Total assets Retained earnings $1,351,080 Total liabilities and equity To prepare a master budget for April, May, and June, management gathers the following information. $178,700 19,000 500,000 $ 697,700 342,000 311,380 653,380 $1,351,880