Minden Company is a whole sale distributor of premium European chocolates. The company's balance sheet as oprril 3G is lyen below: Minder} Company Balance Sheet April so Assets Cash ................................................. $ 9, Ac counts receivable _____________________________________ 54, Inventory ______________________________________________ 3, Buildings and equipment, net of depreciation __________________ E'i'il Total assets ............................................ $30IDJJIDID Liabilities and Stockholders' Equity Accounts payable _______________________________________ $ 53 ,{I Note payable ___________________________________________ 14,5130 Capital stock, no par _____________________________________ l Retained earnings _______________________________________ 4151313 Total liabilities and stockholders' equity ....................... $3, The company is in the process of preparing budget data for May. A number of budget items have already been prepared, as stated below