Problem 7-4A Manufacturing: Preparation of a complete master budget LO P1, P2, P3 IThe following information applies to the questions displayed below.1 The management of Zigby Manufacturing prepared the following estimated balance sheet for March, 2015 ZIGBY MANUFACTURING Estimated Balance Sheet March 31, 2015 Assets 53,000 Cash Accounts receivable 392,400 96,600 Raw materials inventory 313,920 Finished goods inventory 855,920 Total current assets 626,000 Equipment, gross (163,000) Accumulated depreciation 463,000 Equipment, net 1,318,920 Total assets Liabilities and Equity 204,800 Accounts payable Short-term notes payable 25,000 229,800 Total current liabilities 520,000 Long-term note payable 749,800 Total liabilities 348,000 Common stock 221.120 Retained earnings Total stockholders' equity 569,120 1,318,920 Total liabilities and equity