Problem 20-4A Manufacturing: Preparation of a complete master budget LO P1, P2, P3 The management of Zigby Manufacturing prepared the following estimated balance sheet for March 2017 ZIGBY MANUFACTURING Estimated Balance Sheet March 31, 2017 Assets Cash Accounts receivable Raw materials inventory Finished goods inventory Totalcurrent assets Equipment, gross Accumulated depreciation Equipment, net Total assets $ 80,000 487,500 93,390 438,000 1,098,890 640,000 (170,000) 470,000 $1,568,890 Liabilities and Equity Accounts payable Short-term notes payable Total current liabilities Long-term note payable Total liabilities Common stock Retained earnings Total stockholders' equity Total liabilities and equity $ 215,690 32,000 247,690 520,000 767,690 355,000 446,200 801,200 $1,568,890 To prepare a master budget for April, May, and June of 2017, management gathers the following information