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Sosa Company has the following post-closing trial balance on December 31, 2024 Additional information: (Click the icon to view the post-closing trial balance.) a Direct materials purchases are paid 60% in the quarter purchased and 40% in the next quarter b The company's accounting department has gathered the following budgeting information for the first quarter of 2025 Direct labor, manufacturing overhead, selling and administrative costs, and income tax expense are paid in the quarter EFF(Click the icon to view the budgeting information.) ncurred. C. Accounts payable at December 31, 2024 are paid in the first quarter of 2025. Read the requirements Requirement 2. Prepare Sosa Company's budgeted balance sheet as of March 31, 2025. Sosa Company - X Budgeted Balance Sheet Data table - X Data table March 31, 2025 Assets Budgeted total sales, all on account S 306 000 Current Assets Sosa Company Budgeted direct materials to be purchased and used 36,000 Cash 18000 Post-Closing Trial Balance Budgeted direct labor cost 13.000 Accounts Receivable 8500 December 31, 2024 Budgeted manufacturing overhead costs Raw Materials Inventory 8,000 Account Debit Credit Variable manufacturing overhead 2,500 26850 Cash 18,000 Finished Goods Inventory Depreciation 1,000 71350 Accounts Receivable 18,500 Total Current Assets Insurance and property taxes 1.000 Raw Materials Inventory 8,000 Property, Plant, and Equipment Budgeted cost of goods sold 71,400 110000 26,850 Equipment Budgeted selling and administrative expenses Finished Goods Inventory Less: Accumulated Depreciation 25000 135000 Salaries expense 5,000 Equipment 110,000 85000 Accumulated Depreciation S 25,000 Rent expense 3,000 Total Assets 11,600 Liabilities Insurance expense 1,700 Accounts Payable Depreciation expense 350 Common Stock 100,000 Current Liabilities 44,750 11600 Supplies expense 6.120 Retained Earnings Accounts Payable Budgeted cash receipts from customers 263,000 S 181,350 $ 181,350 Stockholders' Equity Totals Budgeted income tax expense 51,000 Common Stock S 100,000 Rudastad purchas ad naumont for capital.axnanditurns 35 000 44750 Retained Earnings 144750 Total Stockholders' Equity Print Done 289500 Total Liabilities and Stockholders' Equity Print Done Clear all Check