Required information [The following information applies to the questions displayed below.] The management of Zigby Manufacturing prepared the following estimated balance sheet for March, 2013: ZIGBY MANUFACTURING Estimated Balance Sheet March 31, 2013 Assets Cash Accounts receivable Raw materials inventory Finished goods inventory $50,000 434,240 84,210 368,000 Total current assets Equipment, gross Accumulated depreciation 936,450 602,000 (151,000) 451,000 1,387,450 Equipment, net Total assets Liabilities and Equity Accounts payable Short-term notes payable 196,610 12,000 $208,610 Total current liabilities 505,000 Long-term note payable Total liabilities Common stock Retained earnings 713,610 336,000 337,840 Total stockholders' equity 673,840