I have to do Budgeted Balance sheet

K4fish Company manufactures sea kayaks used for kayak fishing. K4fish produces 2 types of kayaks, the standard one (Knemo) and a "luxe" version (Kshark). They are both made of plastic, but the Kshark is larger and is sold with a special equipment kit (side stabilizers, GPS, backrests...). These kayaks are manufactured in batch, using the same production line: one batch of Knemo is made of 20 kayaks of finished products (20 kayaks); one batch of Kshark is made of 10 kayaks of finished products (10 kayaks). Of course, this is quite a cyclical industry with more than half of the sales occurring in the 2^nd quarter.

Previous period balance sheet:

K4fish balance sheet as of May 31 is expected to be:

ASSETS

EQUITY & LIABILITIES

Share Capital

1,200,000

Fixed Assets

1,854,000

Retained Income

633,092

Accumulated Depreciation

-238,000

Income of this year

100,430

Net Fixed Assets

1,616,000

Equity (SHF)

1,933,522

Inventory (Stock)

95,540

Bank loan

300,000

Receivables (Debtors)

747,360

Payables (Creditors)

188,200

Cash

18,700

Accrued interests

1,800

Accrued taxes

54,078

Current assets

861,600

Liabilities

544,078

Total

2,477,600

Total

2,477,600