Sarah, the sole stockholder of Barnie Inc., runs a home-cleaning service in the suburb of a large city. Her balance sheet as at May 31, 2019 is as follows:

Barnie Inc. Balance Sheet As at May 31, 2019 Assets Cash $4,200 Accounts Receivable $18,900 Equipment $9,100 Accumulated Depreciation $-2,800 Total Assets $29,400 Liabilities Accounts Payable $4,200 Notes Payable $11,000 Total Liabilities $15,200 Stockholder's Equity $14,200 Total Liabilities & Stockholder's Equity $29,400

In the upcoming year, Sarah expects the following events to occur: Total revenues of $23,000 and total expenses of $8,810 100% of accounts receivable from the prior year will be collected in the following year Credit sales will represent 55% of revenues for the year 100% of accounts payable owing from 2019 will be paid off in 2020 By the end of May, 2020, Barnie will owe its suppliers $3,400 No principal payments will be made on the bank loan during 2019 Purchase of new equipment for $2,800. The entire purchase will be financed through a bank loan Expect to have a cash balance of $24,400 at the end of fiscal 2020 Depreciate assets by $560 during 2020 Do not enter dollar signs or commas in the input boxes. Use the negative sign for negative values.

Prepare Barnie Inc.'s budgeted balance sheet as at May 31, 2020.

Barnie Inc. Budgeted Balance Sheet As at May 31, 2020 Assets Cash $Answer Accounts Receivable $Answer Equipment $Answer Accumulated Depreciation $Answer Total Assets $Answer Liabilities Accounts Payable $Answer Notes Payable $Answer Total Liabilities $Answer Stockholder's Equity $Answer Total Liabilities & Stockholder's Equity $Answer