Norah, the sole shareholder of Mad Dog Food Truck, runs a food truck in the suburb of a large city. Her balance sheet as at May 31, 2020 is as follows:

Mad Dog Food Truck Balance Sheet As at May 31, 2020
Assets
Cash	$4,700
Inventory	$2,400
Equipment	$8,300
Accumulated Depreciation	$-2,100
Total Assets	$13,300
Liabilities
Accounts Payable	$3,000
Loan Payable	$6,600
Total Liabilities	$9,600
Shareholder's Equity	$3,700
Total Liabilities & Shareholder's Equity	$13,300

In the upcoming year, Norah expects the following events to occur:

• Total revenues of $28,000 and total expenses of $9,580
• Inventory is expected to increase by $1,100
• By the end of May, 2021, Mad Dog Food Truck will owe its suppliers $3,000
• No principal payments will be made on the loan payable during 2021
• Purchase of new equipment for $2,500. The entire purchase will be financed through a loan payable
• Expect to have a cash balance of $23,000 at the end of fiscal 2021
• Depreciate assets by $980 during 2021

Do not enter dollar signs or commas in the input boxes. Use the negative sign for negative values. Prepare Mad Dog Food Truck's budgeted balance sheet as at May 31, 2021.

Mad Dog Food Truck Budgeted Balance Sheet As at May 31, 2021
Assets
Cash	$Answer
Inventory	$Answer
Equipment	$Answer
Accumulated Depreciation	$Answer
Total Assets	$Answer
Liabilities
Accounts Payable	$Answer
Loan Payable	$Answer
Total Liabilities	$Answer
Shareholder's Equity	$Answer
Total Liabilities & Shareholder's Equity	$Answer