Begin by completing the accounting equation for the 2019 transactions. (Use a minus sign or parentheses to enter account reductions and contra asset balances and activity. If an input field is not used in the equation leave the input field empty; do not enter a zero. Abbreviations used.) Cash + AR + RM Inv. + FG Inv. + Equip. + + (A/D) = A/P + CS + RE Dec. 31, 2018 + + + + + = + + + Sales on acct. + + + + + + Cash recpts. + + + + + = + + + Purch. RM + + + + + = + + Pmts on acct. . + + + + + + II = + RM used + + + + + + + + + + Direct labor + + + + + + = II = + + Mfg. OH + + + + + = + + Depr. + + + + + + + COGS + + + + + + + S and A + + + + + + II + Purch. equip. + + + + + + Dec. 31, 2019 + Prepare a budgeted balance sheet for Hornberg, Inc. for December 31, 2019. Hornberg, Inc. Budgeted Balance Sheet December 31, 2019 Assets Current Assets: Total Current Assets Property, Plant, and Equipment Total Assets Liabilities Current Liabilities: Stockholders' Equity Total Stockholders' Equity Total Liabilities and Stockholders' Equity - X Data table More info Hornberg, Inc. Balance Sheet December 31, 2018 Assets Current Assets: Cash $ 2,700 Accounts Receivable 1,000 Sales on account, $19.000 Cash receipts from customers from sales on account, $16,400 Purchase of raw materials on account, $2,000 Payments on account, $1,000 Total cost of completed products, $13,200, which includes the following: Raw materials used, $2,000 Direct labor costs incurred and paid, $4,300 Manufacturing overhead costs incurred and paid $6,300 Depreciation on manufacturing equipment, $600 Cost of goods sold, $12,600 Selling and administrative costs incurred and paid, $3,000 Purchase of equipment, paid in 2019, $2,300 Raw Materials Inventory 300 2,050 6,050 Finished Goods Inventory Total Current Assets Property, Plant, and Equipment: Equipment Less: Accumulated Depreciation 12.000 (3,500) ( 8,500 S 14,550 Total Assets Liabilities Print Done Current Liabilities: Accounts Payable $ 1,300 Stockholders' Equity $ Common Stock, no par 8,000 Retained Earnings 5,250 13.250 Total Stockholders' Equity $ 14,550 Total Liabilities and Stockholders' Equity Print Done