Problem 7-8AA Merchandising: Preparation of a complete master budget LO P4

Near the end of 2017 the management of Dimsdale Sports Co., a merchandising company, prepared the following estimated balance.

Problem 7-8AA Merchandising: Preparation of a complete masterbudget LO P4 Near the end of 2017, the management of Dimsdale Sports Co., a merchandising company. prepared the following estimated balance sheet for December 31, 2017 DINSDALE SPORTS COMPANY Estimated Balance Sheet December 31, 2017 Assets Cash Accounts receivable s 36,000 525,000 150,890 s 711,00e Total current assets Equipment Less: accumulated depreciation 540 ,099 Equipment, net Total assets SE 472,500 $ 1,183,588 Liabiiities and Equity 360,800 15,900 90,000 Accounts payable Bank loan payable Taxes payable (due 3/15/2018) Total liabilities Common stock Retained earnings Total stockholders equity Total liabilities and equity 465,008 472,500 246 718,500 $ 1,183,500 To prepare a master budget for January, February, and March of 2018, management gathers the following information