Problem 8-29 Completing a Master Budget [LO8-2, LO8-4, LO8-7, LO8-8, LO8-9, LO8-10] The following data relate to the operations of Shilow Company, a wholesale distributor of consumer goods: Current assets as of March 31: $ 7,000 18,000 $ 36,600 121,200 $ 21,675 150,000 $11,125 Cash Accounts receivable Inventory Building and equipment, net Accounts payable Common stock Retained earnings a The gross margin is 25% of sales. b. Actual and budgeted sales data: March (actual) April May June July $ 45,000 61,000 66,000 $ 91,000 42,000