Grason Corporation is preparing a budgeted balance sheet for current year. The retained earnings balance at December 31 , of the previous year was 5526,500. The current yearbudgeted income statement shows expected net income of 5108.500. The company expects to deciare dividends during the current year amounting 10 \$36,500. The expected bolance on December 31 of the current year in retained earnings on the budgeted balance sheet is: Multipie choice $526.500 $598.500 $635.000 $490.000 $61500 On its December 31 prior year balance sheet, Calgary industries reports equipment of $500,000 and accumulated depreciation of 587000 During the current year, the company plans to purchase additional equipment costing $93,000 and expects depreciation expense of $43,000. Additionaly it pline to dispose of equipment that originally cost $55,000 and had accumulated depreciation of $6,900, The balances for equipment and accurmatated depreciation, respectively, on its December 3 t current year budgeted balance sheet are: Multiple Choice \$445,000: 587,000 $593,000:$123,100 $593,000,$130.000 5538,000,5130,000 $538,000,$123,100