(f) Prepare a budgeted balance sheet as of June 30, 2010. Peyton Department Store Budgeted Balance Sheet June 30, 2010 Assets Liabilities and Equity Cash 3,000 Merchandise payable $ 47,000 Accounts receivable 41,000 Dividend payable 17,000 Inventory 54,000 Rent payable 2,000 Prepaid insurance 800 Loans payable 36,000 Fixtures 41,700 X Interest payable 970 Total assets 140,500 X Stockholders' equity 37,530 X Total liab. & equity $ 140,500 X