Check my work 9 Hillyard Company, an office supplies specialty store, prepares its master budget on a quarterly basis. The following data have been assembled to assist in preparing the master budget for the first quarter: 50 points a. As of December 31 (the end of the prior quarter), the company's general ledger showed the following account balances: Print Cash Accounts receivable Inventory Buildings and equipment (net) Accounts payable Common stock Retained earnings 48,000 206,400 58,950 358,000 References 87,525 500,000 83,825 $ 671,350 671,350 b. Actual sales for December and budgeted sales for the next four months are as follows December (actual) January February March April $258,000 $393,000 $590,000 $304,000 $201,000