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 Balance Sheet June 30 Assets Cash Accounts recelvable Inventory Plant and equipment, net of depreciation 74,000 143,000 73,500 224,000 Total assets 514,500 Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings $ 85,000 310,000 119,500 Total liabilities and stockholders' equity 514,500