Mist Company has the following post$-$closing trial balance on December $31,2024$:

$($Click the icon to view the post$-$closing trial balance.$)$

The company's accounting department has gathered the following budgeting information for the first quarter of $2025$:

$($Click the icon to view the budget information.$)$

Additional information:

Rent and income tax expenses are paid as incurred. Insurance expense is an expiration of the prepaid amount.

Read the requirements.

Mist Company

Budgeted Income Statement

For the Quarter Ended March $31,2025$

Requirement $2.$ Prepare a budgeted balance sheet as of March $31,2025.($Check your spelling carefully and do not abbreviate. When applicable, use only the account names provided in the problem data.$)$

Mist Company

Budgeted Balance Sheet

March $31,2025$

Assets

Current Assets: