Menu Dils Brother Department Store prepares budgets quarterly. The following information second quarter budgets for 2017. Dils Brother Department Store Balance Sheet March 31, 2017 Liabilities and Stockholders' Equity Accounts payable Dividends payable Rent payable Stockholders' equity Assets Cash Accounts receivable Inventory Prepaid Insurance Fixtures s 4,000 31,000 36,000 3,000 25,000 $99,000 $31,000 15,000 3,000 50,000 Total liabilities and equity $99,000 Total assets Actual and forecasted sales for selected months in 2017 are as follows: Month January February March Aprill May Sales Revenue $ 70,000 60,000 50,000 60,000 70,000 80,000 100,000 90,000 July August Monthly operating expenses are as follows: Wages and salaries 0 $27,000 Menu Dils Brother Department Store prepares budgets quarterly. The following information second quarter budgets for 2017. Dils Brother Department Store Balance Sheet March 31, 2017 Liabilities and Stockholders' Equity Accounts payable Dividends payable Rent payable Stockholders' equity Assets Cash Accounts receivable Inventory Prepaid Insurance Fixtures s 4,000 31,000 36,000 3,000 25,000 $99,000 $31,000 15,000 3,000 50,000 Total liabilities and equity $99,000 Total assets Actual and forecasted sales for selected months in 2017 are as follows: Month January February March Aprill May Sales Revenue $ 70,000 60,000 50,000 60,000 70,000 80,000 100,000 90,000 July August Monthly operating expenses are as follows: Wages and salaries 0 $27,000