Exercise 22-33A (Algo) Merchandising: Budgeted balance sheet LO P4 sales 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 511,000 and an ending cash balance of $61,500 b. The sales budget for March shows sales of $122,000, Accounts receivable at the end of March are budgeted to be 60% of March c. The merchandise purchases budget shows that $89,200 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 620 units at a cost of $35 each e. Income taxes payable of $26 200 are budgeted at the end of March f. Accounting records at the end of March show budgeted equipment of $83,800 with accumulated depreciation of $31.400 9. Common stock of $26,000 and retained earnings of $56,400 are budgeted at the end of March Zimmer Company Budgeted Balance Sheet As of March 31