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 $ 70,000 Cash Accounts receivable Inventory Plant and equipment, net of depreciation Total assets Liabilities and Stockholders' Equity 134,000 48,300 212,000 $464,300 Accounts payable Common stock Retained earnings Total liabilities and stockholders' equity $ 73,000 306,000 85,300 $ 464,300