Budgeted Income Statement and Balance Sheet

As a preliminary to requesting budget estimates of sales, costs, and expenses for the fiscal year beginning January 1, 2015, the following tentative trial balance as of December 31, 2014, is prepared by the Accounting Department of Webster Publishing Co.:

Cash	$117,600
Accounts Receivable	212,900
Finished Goods	44,700
Work in Process	29,800
Materials	49,000
Prepaid Expenses	3,600
Plant and Equipment	549,200
Accumulated Depreciation