Can someone help me understand why my balance sheet isn't balancing? Thank you!

CHIPPEWA CHOCOLATES Selling and Administrative Expenses Budget For the Two Months Ending February 28, 2021 January February $ 3,804 $ 6,340 10,144 5,255 8,759 14,014 Budget information: Projected sales for January, 2021 Average Monthly percantage of sales increase: Average monthly salary expense: Average monthly rent expense: Average monthly utility expense: Average monthly misc. expense: Supplies expense as a percentage of sales: Commission expense as a percentage of sales: Cash sales in month of sale Cost of goods sold-percentage of sales Desired ending inventory-percent of next months COGS Payments of inventory in month of purchase Monthly depreciation for 2020 New equipment cost Salvage value USE Life (months) Minimum required cash balance Monthly interest rate 126,800 4% 34,200 5,600 6,520 2,700 3% 5% 54% 34% 30% 75% 2,300 250,000 10,000 120 43,000 0.4% Variable costs: Supplies Expense Commission Expense Total variable costs Fixed costs: Salaries Rent Utilities Misc. Expenses Depreciation on Equipment Total fixed costs: Total S & A Expense 34,200 5,600 6,520 2,700 2,300 51,320 61,464 $ 34,200 5,600 6,520 2,700 2,300 51,320 65,334 $ CHIPPEWA CHOCOLATES Sales Budget For the Three Months Ending March 31, 2021 CHIPPEWA CHOCOLATES Schedule of Cash Payments for S&A Expenses For the Two Months Ending February 28, 2021 January February $ Cash Sales Credit Sales Total Sales January 68,472 58,328 126,800 $ February 71,211 103,968 175,179 $ March 74,059 108,127 182,186 Variable costs: Supplies Expense Commission Expense Total variable costs Fixed costs: 3,804 $ 6,340 10,144 5,255 8,759 14,014 $ CHIPPEWA CHOCOLATES Schedule of Cash Receipts For the Two Months Ending February 28, 2021 Salaries Rent Utilities Misc. Expenses Total fixed costs Cash paid for S&A Expenses 34,200 5,600 6,520 2,700 49,020 59,164 $ 34,200 5,600 6,520 2,700 49,020 63,034 $ January 68,472 February 71,211 Cash Sales CHIPPEWA CHOCOLATES Schedule of Cash Receipts For the Two Months Ending February 28, 2021 Cash Sales Collection of Credit Sales (A/R) Total Budgeted Cash Receipts January 68,472 26,831 February 71,211 47,825 $ 95,303 $ 119,036 CHIPPEWA CHOCOLATES Inventory Purchases Budget For the Two Months Ending February 28, 2021 January 43,112 February 59,561 Cost of Goods Sold 13,401 13,937 Add: Desired Ending Inventory Inventory Needed Less: Beginning Inventory Budgeted Purchases 56,513 12,934 43,579 $ 73,498 13,401 60,097 $ CHIPPEWA CHOCOLATES Schedule of Cash Payments For the Two Months Ending February 28, 2021 February January 10,415 32,684 December Purchases January Purchases February Purchases Cash paid for inventory 10,895 45,073 55,967 $ 43,099 $ CHIPPEWA CHOCOLATES Budgeted Income Statement For the Two Months Ending February 28, 2021 $ Sales Revenue Less: Cost of Goods Sold Gross Profit January 126,800 $ 43,112 83,688 61,464 February 175,179 59,561 115,618 65,334 Less: S&A Expenses Income before interest 22,224 50,284 Interest expense Net Income 89 22,135 $ 201 50,083 $ CHIPPEWA CHOCOLATES Cash Budget For the Two Months Ending February 28, 2021 $ January 42,850 $ 95,303 138,153 February 94,672 119,036 213,709 55,967 63,034 Beginning Cash Balance Add: Cash Receipts Cash Available Less: Cash Paid for: Inventory S&A Expense Equipment purchase Interest Total Cash Paid Surplus/(Shortage) Borrowing Repayment Ending Cash Balance 43,099 59,164 250,000 1,409 353,672 (215,520) 259,000 476 119,478 94,231 (51,000) 43,231 $ 94,672 $ Assets $ $ Cash Accounts Receivable Inventory Equipment Less: Accum. Depr. 42,850 55,522 12,934 Liabilities Accounts Payable-Inventory Salaries Payable Utilities Payable Commissions Payable Notes Payable Total Liabilities 10,415 33,100 5,800 8,500 $ 300,000 27,600 272,400 57,815 Total Assets $ 383,706 Stockholder's Equity Common Stock Retained Earnings Total Liabilities & Stock. Equity 270,000 55,891 383,706 $ Chippewa Chocolates Company Balance Sheet February 28, 2021 Assets $ $ Cash Accounts Receivable Inventory Equipment Less: Accum. Depr. 43,231 47,825 13,937 Liabilities Accounts Payable-Inventory Salaries payable Utilities Payable Commissions Payable Notes Payable Total Liabilities 4,129 34,200 6,520 8,759 208,000 261,608 $ 550,000 23,000 527,000 Total Assets $ 631,993 Stockholder's Equity Common Stock Retained Earnings Total Liabilities & Stock. Equity 270,000 128,109 659,717 $ Variance check $ (27,724) CHIPPEWA CHOCOLATES Selling and Administrative Expenses Budget For the Two Months Ending February 28, 2021 January February $ 3,804 $ 6,340 10,144 5,255 8,759 14,014 Budget information: Projected sales for January, 2021 Average Monthly percantage of sales increase: Average monthly salary expense: Average monthly rent expense: Average monthly utility expense: Average monthly misc. expense: Supplies expense as a percentage of sales: Commission expense as a percentage of sales: Cash sales in month of sale Cost of goods sold-percentage of sales Desired ending inventory-percent of next months COGS Payments of inventory in month of purchase Monthly depreciation for 2020 New equipment cost Salvage value USE Life (months) Minimum required cash balance Monthly interest rate 126,800 4% 34,200 5,600 6,520 2,700 3% 5% 54% 34% 30% 75% 2,300 250,000 10,000 120 43,000 0.4% Variable costs: Supplies Expense Commission Expense Total variable costs Fixed costs: Salaries Rent Utilities Misc. Expenses Depreciation on Equipment Total fixed costs: Total S & A Expense 34,200 5,600 6,520 2,700 2,300 51,320 61,464 $ 34,200 5,600 6,520 2,700 2,300 51,320 65,334 $ CHIPPEWA CHOCOLATES Sales Budget For the Three Months Ending March 31, 2021 CHIPPEWA CHOCOLATES Schedule of Cash Payments for S&A Expenses For the Two Months Ending February 28, 2021 January February $ Cash Sales Credit Sales Total Sales January 68,472 58,328 126,800 $ February 71,211 103,968 175,179 $ March 74,059 108,127 182,186 Variable costs: Supplies Expense Commission Expense Total variable costs Fixed costs: 3,804 $ 6,340 10,144 5,255 8,759 14,014 $ CHIPPEWA CHOCOLATES Schedule of Cash Receipts For the Two Months Ending February 28, 2021 Salaries Rent Utilities Misc. Expenses Total fixed costs Cash paid for S&A Expenses 34,200 5,600 6,520 2,700 49,020 59,164 $ 34,200 5,600 6,520 2,700 49,020 63,034 $ January 68,472 February 71,211 Cash Sales CHIPPEWA CHOCOLATES Schedule of Cash Receipts For the Two Months Ending February 28, 2021 Cash Sales Collection of Credit Sales (A/R) Total Budgeted Cash Receipts January 68,472 26,831 February 71,211 47,825 $ 95,303 $ 119,036 CHIPPEWA CHOCOLATES Inventory Purchases Budget For the Two Months Ending February 28, 2021 January 43,112 February 59,561 Cost of Goods Sold 13,401 13,937 Add: Desired Ending Inventory Inventory Needed Less: Beginning Inventory Budgeted Purchases 56,513 12,934 43,579 $ 73,498 13,401 60,097 $ CHIPPEWA CHOCOLATES Schedule of Cash Payments For the Two Months Ending February 28, 2021 February January 10,415 32,684 December Purchases January Purchases February Purchases Cash paid for inventory 10,895 45,073 55,967 $ 43,099 $ CHIPPEWA CHOCOLATES Budgeted Income Statement For the Two Months Ending February 28, 2021 $ Sales Revenue Less: Cost of Goods Sold Gross Profit January 126,800 $ 43,112 83,688 61,464 February 175,179 59,561 115,618 65,334 Less: S&A Expenses Income before interest 22,224 50,284 Interest expense Net Income 89 22,135 $ 201 50,083 $ CHIPPEWA CHOCOLATES Cash Budget For the Two Months Ending February 28, 2021 $ January 42,850 $ 95,303 138,153 February 94,672 119,036 213,709 55,967 63,034 Beginning Cash Balance Add: Cash Receipts Cash Available Less: Cash Paid for: Inventory S&A Expense Equipment purchase Interest Total Cash Paid Surplus/(Shortage) Borrowing Repayment Ending Cash Balance 43,099 59,164 250,000 1,409 353,672 (215,520) 259,000 476 119,478 94,231 (51,000) 43,231 $ 94,672 $ Assets $ $ Cash Accounts Receivable Inventory Equipment Less: Accum. Depr. 42,850 55,522 12,934 Liabilities Accounts Payable-Inventory Salaries Payable Utilities Payable Commissions Payable Notes Payable Total Liabilities 10,415 33,100 5,800 8,500 $ 300,000 27,600 272,400 57,815 Total Assets $ 383,706 Stockholder's Equity Common Stock Retained Earnings Total Liabilities & Stock. Equity 270,000 55,891 383,706 $ Chippewa Chocolates Company Balance Sheet February 28, 2021 Assets $ $ Cash Accounts Receivable Inventory Equipment Less: Accum. Depr. 43,231 47,825 13,937 Liabilities Accounts Payable-Inventory Salaries payable Utilities Payable Commissions Payable Notes Payable Total Liabilities 4,129 34,200 6,520 8,759 208,000 261,608 $ 550,000 23,000 527,000 Total Assets $ 631,993 Stockholder's Equity Common Stock Retained Earnings Total Liabilities & Stock. Equity 270,000 128,109 659,717 $ Variance check $ (27,724)