Minden Company is a wholesale distributor of premium European chocolates. The company's balance sheet as of April 30 is given below: Minden Company Balance Sheet April 30 Assets Cash Accounts receivable Inventory Buildings and equipment, net of depreciation Total assets $ 15,800 70,200 38,750 222,000 346,750 Liabilities and Stockholders' Equity Accounts payable Note payable Common stock Retained earnings Total liabilities and stockholders' equity $ 74,750 14,700 180,000 77,300 346,750 The company is in the process of preparing a budget for May and has assembled the following data