Problem 7-8AA Merchandising: Preparation of a complete master budget LO P4 IThe following information applies to the questions displeyed below Neer the end of 015. the management of Dimsdale Sports Co. a merchandising company. prepared the following estimeted balance sheet for December 31, 2015. DIMSDALE SPORTS COMPANY Estimated Balance Sheet December 31, 2015 Assets Cash Accounts recelvable Inventory $ 36,000 525,000 150,000 711.000 Total current assets Equipment Less: accumulated depreciation $540,000 67,500 Equipment, net 472.500 Total assets $ 1183,500 Llablilitles and Equity $360000 15.000 90,000 Accounts payable Bank loan payable Toxes payable (due 3/15/2016) $ 465,000 Total liabilities Common stock Retained earnings 472,500 246,000 Total stockholders equity 718,500 Total llabilities and equity $ 1183,500