Balance Sheet Information Stride Manufacturing Company Balance Sheet December 31, 2016 Assets abilities 10,600 42,586 Short Term Investments Finished Goods Inventory Raw Materials Inventory Total Current Assets $16,406 Equity Buildings & Equipment $225,000 Less Accumulated Depreciation 25.500 Retained Earnings 2,006 Net Buildings & Equipment 307 006 317,606 Total Liabilities & Equity $317,606 Note: Accounts receivable represents amounts due from customers for the previous quarters sales. Accounts payable represents amounts due to vendors for direct materials purchases only. Requirements 1. Prepare a sales budget for each quarter and the year in total. 2. Prepare a production budget. 3. Prepare a direct materials budget. 4. Prepare a cash payments budget for the direct material purchases from Requirement 3 5. Prepare a direct labor budget. 6. Prepare a manufacturing overhead budget. 7. Prepare an operating expense budget. 8. Prepare a combined cash budget. 9. Calculate the budgeted manufacturing cost per unit. 10. Prepare a budgeted income statement for the year ending December 31, 2017 (Hint: cost of goods sold Budgeted cost of manufacturing each unit x Number of units sold.)