Bramble Industries' balance sheet at December 31, 2024, is presented below. BRAMBLE INDUSTRIES Balance Sheet December 31, 2024 Assets Current Assets Cash $9.150 Accounts receivable 89.470 Finished goods inventory (1,830 units) 29,280 Total current assets 128,100 Property, Plant, and Equipment Equipment $48.900 Less: Accumulated depreciation 12.200 26,600 Total assets $164,700 Liabilities and Stockholders' Equity Liabilities Notes payable $20,500 Accounts payable 54,900 Total liabilities 85,400 Stockholders' Equity Common stock $48,800 Retained earnings 20.500 Total stockholders' equity 79.200 Total liabilities and stockholders' equity $164,700Budgeted data for the year 2025 include the following 2025 Quarter 4 Total Sales budget [10,600 units at $32) $101,760 $309,200 Direct materials used 20,740 76,250 Direct labor 15,250 62,098 Manufacturing overhead applied 12,200 59.292 Selling and administrative expenses 21,960 91,500 To meet sales requirements and to have 2,050 units of finished goods on hand at December 31, 2025, the production budget shows 10,980 required units of output. The total unit cast of production is expected to be $18. Bramble uses the first-in, first-out (FIFO] inventory casting method. Interest expense is expected to be $4,270 for the year. Income taxes are expected to be 201 of income before income taxes. In 2025, the company expects to declare and payan $9.760 cash dividend. The company's cash budget shows an expected cash balance of $34,540 at December 31, 2025. All sales and purchases are on account. It is expected that 60% of quarterly sales are collected in cash within the quarter and the remainder is collected in the following quarter. Direct materials purchased from suppliers are paid 50) in the quarter incurred and the remainder in the following quarter. Purchases in the fourth quarter were the same as the materials used. In 2025, the company expects to purchase additional equipment costing $10,980. A total of $5,090 of depreciation expense on equipment is included in the budget data and split equally between manufacturing overhead and selling and administrative expenses. Bramble expects to pay $9,760 on the outstanding notes payable balance plus all interest due and payable to December 31 (included in interest expense $4,270, above). Accounts payable at December 31, 2025, includes amounts dus suppliers (see above] plus other accounts payable relating to manufacturing overhead of $8,784. Unpaid income taxes at December 31 will be $4, 100.BRAMBLE INDUSTRIES Budgeted Balance Sheet December 31, 2025 Assets Current Assets 34568 Accounts Receivable 35868 Finished Goods Inventory 54900 Total Current Asseta Property, Plant and Equipment Equipment 59780 Accumulated Depreciation 17250 Total Aseats 167826 Liabilities and Stockholders' Equity