Prepare a budgeted balance sheet at March 31 using the following information from Zimmer Company. The cash budget for March shows an ending loan balance of $12,000 and an ending cash balance of $56,800. The sales budget for March shows sales of $124,000. Accounts receivable at the end of March are budgeted to be 65% of March sales. The merchandise purchases budget shows that $89,400 in merchandise will be purchased on credit in March. Purchases on credit are paid 100% in the month following the purchase. Ending merchandise inventory for March is budgeted to be 640 units at a cost of $35 each. Income taxes payable of $26,400 are budgeted at the end of March. Accounting records at the end of March show budgeted equipment of $83,600 with accumulated depreciation of $31,800. Common stock of $27,000 and retained earnings of $56,800 are budgeted at the end of March.