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, 2049, the following tentative trial balance as of December 31, 2048, is prepared by the Accounting Department of Regina Soap Co.: Cash $117,500 Accounts Receivable 219,700 Finished Goods 46,100 Work in Process 30,800 Materials 50,500 Prepaid Expenses 3,700 Plant and Equipment 568,700