For Part B of this assessment, we are to use this same information.

The flexible budget's figures will be estimated based on the actual activity.

Based on the data in the template, which represents a company's estimated balance sheet, prepare a complete master budget.

Solve the given problem based on the following scenario. The managers of Crouch Corp. need you to create the master budget for the months of January, February, and March of 2018.

Crouch Corp. Estimated Balance Sheet (as of December 31, 2017) Assets ($) Cash 32,400 Accounts receivable 472,500 Inventory 135,000 Total current assets 639,900 Equipment 486,000 Less accumulated depreciation (60,750) Net equipment 425,250 Total assets 1,065,150 Liabilities and Equity ($) Accounts payable 324,000 Bank loan payable 13,500 Taxes payable (due 3/15/2018) 81,000 Total liabilities 418,500 Common stock 425,250 Retained earnings 221,400 Total stockholders' equity 646,650 Total liabilities and equity 1,065,150