Problem 7-8AA Merchandising: Preparation of a complete master budget LO P4 The following information epplies to the questions displeyed below Near the end of 2015, the management of Dimsdale Sports Co, a merchandising company prepered the following estimated balance sheet for December 31. 2015. DIMSDALE SPORTS COMPANY Estimated Balance Sheet December 31. 2015 Assets Cash Accounts receivable Inventory $36.000 525.000 150.000 711.000 Total current assets Equipment Lees accumulated deprecation $540,000 67500 Equipment, net 472,500 Total assets $ 1183,500 Liabilities and Equity Accounts poyable Bank loon payable Taxes payable (due 3/15/2016) $360000 15.000 90,000 Total liabilities Common stock Retained earnings s 465.000 472.500 246,000 Total stockholders equity 718.500 Total nabilities and equity