Hillyard Company, an office supplies specialty store, prepares its master budget on a quarterly basis. The following data have been assembled to assist in preparing the master budget for the first quarter:

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

$\backslash$table$[[,$Debits,Credits$],[$Cash$,$$$60,000,],[$Accounts receivable,$216,000,],[$Inventory$,60,750,],[$Buildings and equipment $($net$),370,000,],[$Accounts payable,,$$91,125$