Kurian Industries' balance sheet at December 31, 2015, is presented below.

	KURIAN INDUSTRIES Balance Sheet December 31, 2015
	Assets
	Current assets
	Cash			$7,500
	Accounts receivable			82,300
	Finished goods inventory (2,500 units)			29,600
	Total current assets			119,400
	Equipment	$39,700
	Less: Accumulated depreciation	10,400		29,300
	Total assets			$148,700
	Liabilities and Shareholders' Equity
	Liabilities
	Notes payable			$25,500
	Accounts payable			45,100
	Total liabilities			70,600
	Shareholders equity
	Common stock	$49,700
	Retained earnings	28,400
	Total shareholders equity			78,100
	Total liabilities and shareholders equity			$148,700

Budgeted data for the year 2016 include the following.

		Q4 of 2016			Year 2016 Total
	Sales budget (8,300 units at $39)	$97,110			$323,700
	Direct materials used	16,700			70,100
	Direct labor	12,500			55,500
	Manufacturing overhead applied	11,000			32,800
	Selling and administrative expenses	18,100			75,700

To meet sales requirements and to have 3,000 units of finished goods on hand at December 31, 2016, the production budget shows 8,800 required units of output. The total unit cost of production is expected to be $18. Kurian Industries uses the first-in, first-out (FIFO) inventory costing method. Selling and administrative expenses include $4,800 for depreciation on equipment. The company expects interest expense to be $3,200 for the year and income taxes to be 30% of income before income taxes. All sales and purchases are on account. The company expects to collect 60% of the quarterly sales in cash within the quarter and the remainder in the following quarter. It pays direct materials purchased from suppliers 50% in the quarter incurred and the remainder in the following quarter. Purchases in the fourth quarter were the same as the materials used. In 2016, the company expects to purchase additional equipment costing $18,000. It expects to pay $8,200 on notes payable plus all interest due and payable to December 31 (included in interest expense $3,200, above). Accounts payable at December 31, 2016, includes amounts due to suppliers (see above) plus other accounts payable of $6,000. In 2016, the company expects to declare and pay a $5,000 cash dividend. Unpaid income taxes at December 31 will be $9,972. The company's cash budget shows an expected cash balance of $56,938 at December 31, 2016.

1. Prepare a budgeted balance sheet at December 31, 2016. (Round answers to 0 decimal places, e.g. 125. List Current assets in order of liquidity.)