Beech Corporation is a merchandising company that is preparing a master budget for the third quarter of the calendar year. The companys balance sheet as of June 30th is shown below:

Beech Corporation is a merchandising company that is preparing a master budget for the third quarter of the calendar year. The company's balance sheet as of June 30th is shown below: Beech Corporation Balance Sheet June 30 Assets 74,000 Cash Accounts receivable 143,000 73,500 Inventory Plant and equipment, net of depreciation 224,000 514,500 Total assets Liabilities and Stockholders' Equity Accounts payable 85,000 Common stock 310,000 119,500 Retained earnings Total liabilities and stockholders' equity 514,500