Saved Problem 8-29 Completing a Master Budget LO8-2, Lo8-4, LO8-7, L08-8, LO8-9, LO8-10) The following data relate to the operations of Shilow Company, a wholesale distributor of consumer goods he folowing data relate to the operatiors Current assets as of March 31 $ 7,600 $20,400 40,200 Building and equipment, net $128,400 $ 23,925 $150,000 22,675 Cash Accounts receivable Inventory Accounts payable Common stock Retained earnings a. The gross margin is 25% of sales. b. Actual and budgeted sales data: March (actual) $ 51,080 April May June July $67,800 $72,888 $97,808 $48,888