Grange Retailers Limited Balance Sheet (Actual) As at 31 December 20X1 Assets Cash ? Accounts receivable ? Inventory ? Plant and equipment (net) $425,000 Accounts payable* Paid-up capital: Ordinary shares Retained earnings *Accounts payable is for inventory purchases only. Liabilities & Equity ? $210,000 268,750 ? i. Sales (20X1-20X2) Month Actual or estimated November (actual) Sales $100,000 December (actual) 120,000 January (estimated) $90,000 February (estimated) 100,000 March (estimated) 135,000 April (estimated) 110,000