Assume that a merchandising company provided the following beginning and ending budgeted balance sheets for a forthcoming month: Beginning Balances Ending Balances: Cash Accounts receivable Inventory Buildings and equipment Accumulated depreciation Total assets Accounts payable Common stock Retained earnings Total liabilities and stockholders' $ 30,000 13,000 $ 38,000 16,000 20,000 18,000 100,000 100,000 (25,000) (30,000) $ 138,000 142,000 $ 4,000 $ 5,000 60,000 74,000 60,000 77,000 equity $ 138,000 $142,000 Assume that all of the company's sales are on account and it has no uncollectible accounts. If the cash collected from customers during the period is $120,000, then how much sales must be shown on the company's budgeted income statement?