Bonilla Doughnuts has applied for a loan with a local bank. The bank has requested a budgeted balance sheet as of May 31,2023 . The controller of Bonilla has assembled the following information: View the information. Prepare a budgeted balance sheet for Bonilla Doughnuts. Information Begin by calculating Bonilla's budgeted income for May 2023. - May 31 inventory balance: $21,200 - May payments of inventory paid for in cash: $5,200 - May payments of accounts payable and accrued liabilities from April: $8,500 - May 31 accounts payable balance: $11,600 - April 30 fumiture and fixtures: $34,600, with accumulated depreciation of $26,800 - April 30 owner's equity: $29,325 - May depreciation expense: $810 - Cost of goods sold: 25% of sales - Other May expenses, including income taxes: $6,000, paid in cash - April 30 cash balance: $13,600 - May budgeted sales: $15,500 Next, complete the tollowing select 1-accounts. - May 31 accounts receivable balance: 30% of May sales - May cash receipts: $19,000 Bonilla Doughnuts has applied for a loan with a local bank. The bank has requested a budgeted balance sheet as of May 31,2023 . The controller of Bonilla has assembled the following information: View the information. Prepare a budgeted balance sheet for Bonilla Doughnuts. Information Begin by calculating Bonilla's budgeted income for May 2023. - May 31 inventory balance: $21,200 - May payments of inventory paid for in cash: $5,200 - May payments of accounts payable and accrued liabilities from April: $8,500 - May 31 accounts payable balance: $11,600 - April 30 fumiture and fixtures: $34,600, with accumulated depreciation of $26,800 - April 30 owner's equity: $29,325 - May depreciation expense: $810 - Cost of goods sold: 25% of sales - Other May expenses, including income taxes: $6,000, paid in cash - April 30 cash balance: $13,600 - May budgeted sales: $15,500 Next, complete the tollowing select 1-accounts. - May 31 accounts receivable balance: 30% of May sales - May cash receipts: $19,000