Exercise 22-33A (Algo) Merchandising: Budgeted balance sheet LO P4 Prepare a budgeted balance sheet at March 31 using the following information from Zimmer Company a. The cash budget for March shows an ending loan balance of $12,500 and an ending cash balance of $67,000. b. The sales budget for March shows sales of $125,000. Accounts receivable at the end of March are budgeted to be 60% of March sales. c. The merchandise purchases budget shows that $89,500 in merchandise will be purchased on credit in March. Purchases on credit are paid 100% in the month following the purchase. d. Ending merchandise inventory for March is budgeted to be 650 units at a cost of $30 each. e. Income taxes payable of $26,500 are budgeted at the end of March. f. Accounting records at the end of March show budgeted equipment of $83,500 with accumulated depreciation of $32,000. g. Common stock of $27,500 and retained earnings of $57,000 are budgeted at the end of March. ZIMMER COMPANY Budgeted Balance Sheet As of March 31