eBook Budgeted Income Statement and Balance Sheet As a preliminary to requesting budget estimates of sales, costs, and expenses for the fiscal year beginning January 1, 2019, the following tentative trial balance as of December 31, 2018, is prepared by the Accounting Department of Regina Soap Co.: Cash Accounts Receivable $98,600 180,400 Finished Goods Work in Process Materials 37,900 25,300 41,500 Prepaid Expenses 3,100 Plant and Equipment 482,200 Accumulated Depreciation-Plant and Equipment $207,300 Accounts Payable 160,600 Common Stock, $10 par 250,000 Retained Earnings 251,100 $869,000 $869,000 Factory output and sales for 2019 are expected to total 23,000 units of product, which are to be sold at $100 per unit. The quantities and costs of the inventories at December 31, 2019, are expected to remain unchanged from the balances at the beginning of the year. Budget estimates of manufacturing costs and operating expenses for the year are summarized as follows: Estimated Costs and Expenses Fixed Variable (Total for Year) (Per Unit Sold)