Eichler, Inc. has the following balance sheet at December 31, 2018: EEE Click the icon to view the balance sheet) Eichler projects the following transactions for 2019 Prepare a budgeted balance sheet for Eichler, Inc. for December 31, 2019. (Hint: It may be helpful to trace the effects of each transaction on the accounting equation to determine the ending balance of each account.) (Click the icon to view the transactions) Cash A/R RMInvFG Inv Equip (ADA/PCSRE Dec. 31, 2018 Sales on acct. Cash recpts. Purch. RM Pmts on acct. RM used Direct labor Depr COGS S and A Purch. equip Dec. 31, 2019 Prepare a budgeted balance sheet for Eichler, Inc. for December 31, 2019. Eichler, Inc. Budgeted Balance Sheet December 31, 2019 Assets Current Assets: Total Current Assets Property, Plant, and Equipment Total Assets Liabilities Current Liabilities: Stockholders' Equity Total Stockholders' Equity Total Liabilities and Stockholders' Equity Sales on account, $21,000 Cash receipts from customers from sales on account, $15,800 Purchase of raw materials on account, $2,000 Payments on account, $2,000 Total cost of completed products, $12,800, which includes the following: Raw materials used, $2,500 Direct labor costs incurred and paid, $5,800 Manufacturing overhead costs incurred and paid, $3,600 Depreciation on manufacturing equipment, $900 Cost of goods sold, $13,400 Selling and administrative costs incurred and paid, $1,000 Purchase of equipment, paid in 2019, $2,300 Eichler, Inc. Balance Sheet December 31, 2018 Assets Current Assets: Cash Accounts Receivable Raw Materials Inventory Finished Goods Inventory Total Current Assets 2,600 900 600 1,850 5,950 Property, Plant, and Equipment: 18,000 Less: Accumulated Depreciation (3,000) 15,000 20,950 Total Assets Liabilities Current Liabilities Accounts Payable $1,900 Stockholders' Equity 7,000 12,050 Common Stock, no par Retained Earnings Total Stockholders' Equity 19,050 $20,950 Total Liabilities and Stockholders' Equity