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 receivable Inventory Plant and equipment, net of depreciation $ 82,000 129,000 52,500 217,000 Total assets $480,500 Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings $ 78,000 347,000 55,500 Total liabilities and stockholders' equity $480,500