period.

Required:

Prepare Intercoastal Electronics Company's master budget for the first quarter of $201$ by completing the

following schedules and statements.

Prepare Intercoastal Electronics' budgeted statement of retained earnings for the first quarter of $201.$

Prepare Intercoastal Electronics' budgeted balance sheet as of March $31,20$x$1.($Hint: On March $31,20$x$1,$ Bond Interest

Payable is $$2,500$ and Property Taxes Payable is $$900.)$

Note: Round your answers to the nearest whole dollar.