How do you figure A/R and Owner's Equity on Balance Sheet Sept 30?

Sales Budget
	July	August	September	Total
Expected Sales (Units)	1600	1400	1500	4500
Average Selling price	$ 196	$ 196	$ 196
`Expected Sales	$ 3,13,600	$ 2,74,400	$ 2,94,000	$ 8,82,000

Merchandise Purchase Budget
	July	August	September	Total
Expected Sales (Units)	1600	1400	1500	4500
Add : Desired Ending Inventory	560	600	480
Total Units required	2160	2000	1980	6140
Less : Beginning Inventory	640	560	600
Units to be Purchased	1520	1440	1380	4340
Cost per unit	$ 110	$ 110	$ 110
Total Purchase cost	$ 1,67,200	$ 1,58,400	$ 1,51,800	$ 4,77,400

Schedule of Cash Collections
	July	August	September	Quarter
From Accounts receivable
May Sales	$ 82,320			$ 82,320
June Sales	$ 98,000	$ 58,800		$ 1,56,800
From Budgeted Sales
July Sales	$ 62,720	$ 1,56,800	$ 94,080	$ 3,13,600
August Sales		$ 54,880	$ 1,37,200	$ 1,92,080
September Sales			$ 58,800	$ 58,800
Total Cash Collections	$ 2,43,040	$ 2,70,480	$ 2,90,080	$ 8,03,600

Cash Budget
	July	August	September	Quarter
Beginning Balance	$ 12,480	$ 8,000	$ 8,000	$ 12,480
Cash Collections	$ 2,43,040	$ 2,70,480	$ 2,90,080	$ 8,03,600
Total Cash Available	$ 2,55,520	$ 2,78,480	$ 2,98,080	$ 8,16,080
Cash Disbursements
Purchases	$ 1,36,400	$ 1,67,200	$ 1,58,400	$ 4,62,000
Variable Cash Expenses	$ 78,400	$ 68,600	$ 73,500	$ 2,20,500
Fixed Cash Expenses	$ 40,000	$ 40,000	$ 40,000	$ 1,20,000
Total Cash Disbursements	$ 2,54,800	$ 2,75,800	$ 2,71,900	$ 8,02,500
Preliminary Ending Balance	$ 720	$ 2,680	$ 26,180	$ 13,580
Financing
Borrowings	$ 7,280	$ 5,320		$ 12,600
Repayment			$ -12,600	$ -12,600
Interest			$ -298	$ -298
Total Financing	$ 7,280	$ 5,320	$ -12,898	$ -298
Ending Balance	$ 8,000	$ 8,000	$ 13,282	$ 13,282

It is assumed, borrowing is made at end of month, and interest has been calculated accordingly

Income Statement
Sales Revenue	$ 8,82,000
Cost of Goods Sold	$ 4,95,000
Gross Profit	$ 3,87,000
Expenses
Variable Expenses	$ 2,20,500
Fixed Expenses	$ 1,20,000
Depreciation	$ 6,000
Interest	$ 298
Total Expenses	$ 3,46,798
Net Income	$ 40,202

Balance Sheet, Sep 30
Cash	$ 13,282
Accounts receivable	$ 3,17,520
Merchandise inventory (480 units)	$ 52,800
Fixed assets (net)	$ 1,24,000
Total assets	$ 5,07,602
Accounts payable (merchandise)	$ 1,51,800
Owners equity	$ 3,55,802
Total Liabilities and equity	$ 5,07,602

1970 196.400 151 . O chut showing process Option Section Ishrewig Wie chlar