Assignment: Ana has provided the balance sheet for 2018 to use for reference as follows: Assets Cash Raw Materials Inventory Finished Goods Inventroy Account Receivables, net Total Current Assets Land, Building and Equipment Accumulated Dep. Total Assets $ 45,820 10,000 30,250 110,622 Houses Average Sink per house Total Sink Sales Budgeted Units Sold Price Per Unit Budgeted Revenue $912,000 (114,000) 1. Develop the Revenue Budget Unique Sinks Sales Budget December 31, 2019 Unique Sinks Balance Sheet 31-Dec-18 $196,692 01 02 03 04 Liabilities Accounts Payable Income Taxes Payable Total Liabilities Common Stock Retained Earnings Stockholders Equity Total Equity $994,692 Total Liabilites and Equity $ 72,370 7,000 $750,000 165,322 $ 79,370 $915,322 $994,692 ntent/460502/viewContent/3389341/View Quarter strategy will be needed for the next year. As in prior years, Jordan will submit budgeted financial statements to his bank as part of his annual line-of-credit loan application. He also plans to compare quarterly results to budgeted revenues and costs so that he can monitor whether operations are under control. Jordan provides the company's accountant, Ana Fernandez, with the following housing start estimates and asks her to begin developing a master budget for the next period. First Second Third Fourth Housing Starts Saved Help Save & X 6,000 24,000 12,000 4,000 The Best Fleece Jackets of 2 Average Sink Per House 3.00 2.90 3.00 3.10 Ana prepared the revenue budget first because she needs information from the volume of sink sales to develop the production and variable cost budgets. She calls several developers regarding the number of sinks they expect to install in each house. After speaking with several developers, she decides to budget 35% of the total estimated sink sales (units) for production, based on prior year contracts. She also decides to increase their selling price from $70 to $85 since they have not increased their price in 3 years.