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Problem 22-8AA Merchandising: Preparation of a complete master budget LO P4 IThe following information applies to the questions displayed below.J Near the end of 2015, the management of Dimsdale Sports Co., a merchandising company, prepared the following estimated balance sheet for December 31, 2015. DIMSDALE SPORTS COMPANY Estimated Balance Sheet December 31, 2015 Assets 36,000 Cash Accounts receivable 525.000 150.000 nventory 711.000 Total current assets 540.000 Equipment Less: accumulated depreciation 67500 Equipment, net 472.500 Total assets 1183.500 Liabilities and Equity 360.000 Accounts payable Bank loan payable 15.000 90.000 Taxes payable (due 3/15/2016) Total liabilities 465.000 472.500 Common stock 246.000 Retained earnings Total stockholders' equity 718.500 Total liabilities and equity 1183.500