Endless Mountain Company manufactures a single product that is popular with outdoor recreation enthusiasts. The company sells its product to retailers throughout the northeastern quadrant of the United States. It is in the process of creating a master budget for 2017 and reports a balance sheet at December 31, 2016 as follows: Endless Mountain Company Balance Sheet December 31, 2016 Assets Current assets: Cash $46,200 Accounts receivable (net) 260,000 Raw materials inventory [4,500 yards) 11,250 Finished goods inventory (1,500 units) 32,250 Total current assets $349,700 Plant and equipment: Buildings and equipment 900,000 Accumulated depreciation {292,000} Plant and equipment, net 608,000 Total assets $957,700 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $158,000 Stockholders' equity: Common stock $419,800 Retained earnings 379,900 Total stockholders' equity 799,700 59.5sz