Required information [The following information applies to the questions displayed 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 Accounts receivable Inventory Plant and equipment, net of depreciation Total assets $ 96,000 139,000 70,200 228,000 $ 533,200 Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings $ 89,000 333,000 111,200 $ 533,200 Total liabilities and stockholders equity Beech's managers have made the following additional assumptions and estimates