Sarah, the sole shareholder of Mad Max Food Truck, runs a food truck in the suburb of a large city. Her balance sheet as at January 31, 2020 is as follows:

Mad Max Food Truck

Balance Sheet

As at January 31, 2020

Assets

Cash $5,200

Inventory $2,300

Equipment $8,600

Accumulated Depreciation $-2,000

Total Assets $14,100

Liabilities

Accounts Payable $2,300

Loan Payable $7,100

Total Liabilities $9,400

Shareholder's Equity $4,700

Total Liabilities & Shareholder's Equity $14,100

In the upcoming year, Sarah expects the following events to occur:

Total revenues of $21,000 and total expenses of $6,370

Inventory is expected to increase by $900

By the end of January, 2021, Mad Max Food Truck will owe its suppliers $3,500

No principal payments will be made on the loan payable during 2021

Purchase of new equipment for $2,600. The entire purchase will be financed through a loan payable

Expect to have a cash balance of $20,700 at the end of fiscal 2021

Depreciate assets by $570 during 2021

Do not enter dollar signs or commas in the input boxes.

Use the negative sign for negative values.

Prepare Mad Max Food Truck's budgeted balance sheet as at January 31, 2021.

Mad Max Food Truck

Budgeted Balance Sheet

As at January 31, 2021

Assets

Cash $Answer

Inventory $Answer

Equipment $Answer

Accumulated Depreciation $Answer

Total Assets $Answer

Liabilities

Accounts Payable $Answer

Loan Payable $Answer

Total Liabilities $Answer

Shareholder's Equity $Answer

Total Liabilities & Shareholder's Equity $Answer