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Beech Corporation is a merchandising company that is preparing a master budget for the third quarter of the calendar year. The company's balance sheet as of June 30th is shown below:

Beech Corporation is a merchandising company that is preparing a master budget for the third quarter of the calendar year. The company's balance sheet as of June 30th is shown below: Beech Corporation Balance Sheet June 30 Assets Cash $ 90,000 Accounts receivable 136,000 Inventory 62,000 Plant and equipment, net of depreciation 210,000 Total assets $498,000 Liabilities and Stockholders' Equity Accounts payable $ 71,100 Common stock 327,000 Retained earnings 99,900 Total liabilities and stockholders' equity $498,000