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ZIGBY MANUFACTURING Estimated Balance Sheet March 31, 2019 Assets Cash $ 42,000 Accounts receivable 364,000 Raw materials inventory 107,200 Finished goods inventory 349,440 Total current assets 862,640 Equipment 604,000 Accumulated depreciation (152,000) Equipment, net 452,000 Total assets $1,314.540 Liabilities and Equity Accounts payable $ 211,300 Shortterm notes payable 14,000 Total current liabilities 225,300 Longterm note payable 510,000 Total liabilities 735,300 Common stock 337,000 Retained earnings 242,340 Total stockholders' equity 579,340 Total liabilities and equity $1,314,640 The Company has hen approached by a wholesaler requesting a one-time special order to be delivered at the id of May. The special order equals the number of units originally budgeted for May. This will effectively double May's projected sales. The special order will be sold on account at a discount. The discount will be 3% of the normal selling price per unit. Additionally, because this special order was negotiated with Zigby's managemnt, there will be NO sales commissions for this sales revenue. Because the company is limited to $50,000 short-term borrowings, executive management is concerned about the cash strain this order will put on their operations for the quarter and has made some suggestions regarding the master budget. You will need to revise the master budget as indicated below. 1) For Zigby's sales, complete the following: a) Complete the table below to determine the net sales amount for the special order. Number of Units (equals May's units from connect) Sales Price per unit [from connect) Gross Sales Revenue {multiply} Less Discount (3% of Gross Sales Revenue} Net Sales for Special Order b) Complete the Revised Sales Budget below by including the \"Net Sales for Special Order" in the table below. April 2019 May 2019 June 2019 Totals for the 2nd quarter ZIGBY MANUFACTURING Sales Budget April, May, and June 2019 Budgeted Budgeted Budgeted Unit Unit Sales Sales Price Dollars April 2019 20,800 $ 25.00 $ 520,000 May 2019 21,600 25.00 540,000 June 2019 20,900 25.00 522,500 Totals for the second quarter 63,300 $ 1,582,500