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The following information is available for Zetrov Company. a. The cash budget for March shows an ending bank loan of $10,500 and an ending cash balance of 557750 b. The sales budget for March indicates sales of $121,000. Accounts receivable are expected to be 65% of the current month sales c. The merchandise purchases budget indicates that $89.100 in merchandise will be purchased on account in March. Purchases on account are paid 100% in the month following the purchase. Ending inventory for March is predicted to be 610 units at a cost of $30 each. d. The budgeted income statement for March shows net income of $48,100. Depreciation expense of $1100 and $26,100 in income tax expense were used in computing net income for March. Accrued taxes will be paid in April e. The balance sheet for February shows equipment of $83,900 with accumulated depreciation of $30.100, common stock of $25,500, and ending retained earnings of $8,100. There are no changes budgeted in the equipment or common stock accounts: Prepare a budgeted balance sheet at the end of March. ZETROV COMPANY Budgeted Balance Sheet As of March 31 Next > 5 of 7 !!! Fortune, Inc., is preparing its master budget for the first quarter. The company sells a single product at a price of $25 per un Sales in units) are forecasted at 41,000 for January, 61,000 for February, and 51,000 for March. Cost of goods sold is $12 per unter expense Information for the first quarter follows. Commissions Rent Advertising Office salaries Depreciation Interest Tax rate 121 of sales dollars $ 25,000 per month 111 of sales dollars $ 70,000 per month $ 49,000 per month 131 annually on a $260.000 note payable 301 Prepare a budgeted income statement for this first quarter. (Round your final answers to the nearest whole dollar) FORTUNE INC Budgeted Income Statement For Quarter Ended March 31 Operating expenses The following information is available for Zetrov Company. a. The cash budget for March shows an ending bank loan of $10,500 and an ending cash balance of 557750 b. The sales budget for March indicates sales of $121,000. Accounts receivable are expected to be 65% of the current month sales c. The merchandise purchases budget indicates that $89.100 in merchandise will be purchased on account in March. Purchases on account are paid 100% in the month following the purchase. Ending inventory for March is predicted to be 610 units at a cost of $30 each. d. The budgeted income statement for March shows net income of $48,100. Depreciation expense of $1100 and $26,100 in income tax expense were used in computing net income for March. Accrued taxes will be paid in April e. The balance sheet for February shows equipment of $83,900 with accumulated depreciation of $30.100, common stock of $25,500, and ending retained earnings of $8,100. There are no changes budgeted in the equipment or common stock accounts: Prepare a budgeted balance sheet at the end of March. ZETROV COMPANY Budgeted Balance Sheet As of March 31 Next > 5 of 7 !!! Fortune, Inc., is preparing its master budget for the first quarter. The company sells a single product at a price of $25 per un Sales in units) are forecasted at 41,000 for January, 61,000 for February, and 51,000 for March. Cost of goods sold is $12 per unter expense Information for the first quarter follows. Commissions Rent Advertising Office salaries Depreciation Interest Tax rate 121 of sales dollars $ 25,000 per month 111 of sales dollars $ 70,000 per month $ 49,000 per month 131 annually on a $260.000 note payable 301 Prepare a budgeted income statement for this first quarter. (Round your final answers to the nearest whole dollar) FORTUNE INC Budgeted Income Statement For Quarter Ended March 31 Operating expenses