Minden Company is a wholesale distributor of premium European chocolates. The company's balance sheet as of Apri 30 is given below Balance Sheet ??"h Inventory Buildings and equipment, net of depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Note payable s 11,500 64,750 47,000 220,000 s 343,250 $ 70,750 19,900 180,000 72, 600 Retained earnings Total liabilities and stockholders' equity The company is in the process of preparing a budget for May and has assembled the following data month's credit sales are collected in the month the sales are made, and the remainder is collected in the following month All of the April 30 accounts receivable will be collected in May a. Sales are budgeted at $290,000 for May. Of these sales, $87000 will be for cash, the remainder will be credit sales. One-half of a