Near the end of 2019, the management of Dimsdale Sports Co., a merchandising company, prepared the following estimated balance sheet for December 31, 2019. DIMSDALE SPORTS COMPANY Estimated Balance Sheet. December 31, 2019) Assets Cash $ 36,000 Accounts receivable 520,000 Inventory 150,000 Total current assets $ 706,000 Equipment 600,000 Less: Accumulated depreciation 75,000 Equipment, net Total assets 525,000 $1,231,000 Accounts payable Bank loan payable Liabilities and Equity Taxes payable (due 3/15/2020) $365,000 12,000 Total liabilities 92,000 $ 469,000 Common stock Retained earnings 471,000 291,000 Total stockholders' equity 762,000 $1,231,000 Total liabilities and equity To prepare a master budget for January, February, and March of 2020, management gathers the following information.