Hillyard Company, an office supplies specialty store, gathered the following information to prepare its master budget for the first quarter of the year.

a$.$ As of December $31($the end of the prior quarter$),$ the company's general ledger showed the following account balances:

b$.$ Actual sales for December and budgeted sales for the next four months are as follows:

$\backslash$table$[[$Decenber $($actuaI$),$$$266,000$