Hi there, I got question 12 incorrect, the answer should be $1,054,920 instead I got different figures. I need help with question 12:

\" Cash $40,000 Liabilities Accounts Recievable 51,400 Accounts Payable 588,800 Raw Materials Inventory [1,980 x 14.35) 28,413 Income Taxes Payable 51,744 Finished Goods Inventory (16,800 x 14.35) 11,496 Long-term Note Payable 300,000 $440,544 Equipment (720,000 + 100,000) 820,000 Equity Less: Accumulated depreciation 140,000 680,000 Common Stock 600,000 Total Assets $811,309\" Retained Earnings (5984) $599,016 Total Liabilities & Equity $1,039,560\" Should be 51,054,920 Sales 51,020,000 COGS {60,000 units @ 514.35] 361,000 Gross Prot $159,000 Selling, general, and admin expenses Sales commisions 102,000 Sales salaries 10,500 Administrative salaries 2?,000 Interest on longterm note 8,100 Interest on loan 240 14?,840 Income before income taxes $11,160 Income taxes (14?,840 x 35%] 51,?44 Net Income $40,584 Retained earnings 559,600 Net Income S40,584 $19,015 Less: Cash dividends 20,000 Retained earnings {5984} 12. Budgeted balance sheet at September 30. (12) Budgeted total assets: Sep. 30, $1,054,920The management of Nabar Manufacturing prepared the following balance sheet for June 30. NABAR MANUFACTURING Balance Sheet June 30 Assets Cash $ 40,000 Accounts receivable 248,920 Raw materials inventory 35,000 Finished goods inventory 241,080 Equipment $720,000 Less: Accumulated depreciation 240,000 480,000 Total assets $1,045,000 Liabilities and Equity Liabilities Accounts payable $ 51,400 Income taxes payable 10,000 Loan payable 24,000 Long-term note payable 300,000 $ 385,400 Equity Common stock 600,000 Retained earnings 59,600 659,600 Total liabilities and equity $ 1,045,000To prepare a master budget for July, August, and September, use the following information. a. Sales were 20.000 units in June. Budgeted sales in units follow: July. 21.000; August. 19.000: September. 20,000; and October. 24.000. The product's selling price is $17 per unit and its total product cost is $14.35 per unit. b. Company policy calls for a given month's ending finished goods inventory to equal 70% of the next month's budgeted unit sales. The June 30 finished goods inventory is 16.800 units. c. Raw materials inventory consists solely of direct materials that cost $8 per pound. Company policy calls for a given month's ending materials inventory to equal 20% of the next month's direct materials requirements. The June 30 raw materials inventory is 4,375 pounds. The budgeted September 30 ending raw materials inventory is 1,980 pounds. Each finished unit requires 0.50 pound of direct materials. d. Each finished unit requires 0.50 hour of direct labor at a rate of $16 per hour. e. The predetermined variable overhead rate is $2.70 per direct labor hour. Depreciation of $20.000 per month is the only fixed factory overhead item. f. Monthly general and administrative expenses include $9,000 administrative salaries and 0.9% monthly interest on the long-term note payable. g. Sales commissions of 10% of sales are paid in the month of the sales. The sales manager's monthly salary is $3.500. h. The company budgets 30% of sales to be for cash and the remaining 70% on credit. Credit sales are collected in full in the month following the sale (no credit sales are collected in the month of sale). i. All raw materials purchases are on credit, and accounts payable are solely tied to raw materials purchases. Raw materials purchases are fully paid in the next month (none are paid in the month of purchase). j. Dividends of $20,000 are budgeted to be declared and paid in August.k. Income Taxes Payable at June 30 are budgeted to be paid in July. Income tax expense will be assessed at 35% in the quarter and budgeted to be paid in October. 1. Equipment purchases of $100,000 are budgeted for the last day of September. m. The minimum ending cash balance for all months is $40,000. If necessary, the company borrows enough cash using a loan to reach the minimum. Loans require an interest payment of 1% at each month-end (before any repayment). If the month-end preliminary cash balance exceeds the minimum, the excess will be used to repay any loans