Deacon Company is a merchandising company that is preparing a budget for the second quarter of the calendar year. The following Information is available. DEACON COMPANY Balance Sheet March 31 Assets Cash Accounts receivable. Inventory Plant and equipment, net of depreciation Total assets Liabilities and Shareholders' Equity Accounts payable Common shares Retained earnings Total liabilities and shareholders' equity $ 62,000 30,000 43,000 90,000 $225,000 $ 55,000 72,000 98,000 $225,000