(Click the icon to view the post-closing trial balance.) The company's accounting department has gathered the following budgeting information for the first quarter of 2025: (Click the icon to view the budgeting information.) a. Direct materials purchases are paid 50% in the quarter purchased and 50% in the next quarter. b. Direct labor, manufacturing overhead, selling and administrative costs, and income tax expense are paid in the quarter incurred. Read the requirements. Requirement 2. Prepare Sharpe Company's budgeted balance sheet as of March 31, 2025. + Data table Budgeted total sales, all on account. Budgeted direct materials to be purchased and used Budgeted direct labor cost Budgeted manufacturing overhead costs: Variable manufacturing overhead Depreciation Insurance and property taxes Budgeted cost of goods sold Budgeted selling and administrative expenses: Salaries expense Rent expense Insurance expense Depreciation expense Supplies expense Budgeted cash receipts from customers Budgeted income tax expense Budgeted purchase and payment for capital expenditures (additional equipment) Data table