Completing a Master Budget [LO2, LO4, LO7, LO8, LO9, LO10] Nordic Company, a merchandising company, prepares its master budget on a quarterly basis. The following data have been assembled to assist in preparation of the master budget for the second quarter. a.

As of March 31 (the end of the prior quarter), the companys balance sheet showed the following account balances: Cash $ 9,600 Accounts receivable 50,400 Inventory 13,320 Buildings and equipment (net) 215,700 Accounts payable $ 19,890 Capital stock 190,000 Retained earnings 79,130 $ 289,020 $ 289,020