The Best Chocolate Company is a wholesale distributor of premium European chocolates. The company$$s balance sheet on March $31$ is as follows:

Assets

Cash $ $12,600$

Accounts receivable, customers $58,500$

Inventory $32,700$

Buildings and equipment, net of depreciation $225,000$

Total assets $ $328,800$

Liabilities and Shareholders$$ Equity

Accounts payable, suppliers $ $68,400$

Note payable $16,300$

Capital shares, no par $198,000$

Retained earnings $46,100$

Total liabilities and shareholders$$ equity $ $328,800$

The company is in the process of preparing budget data for April. A number of budget items have already been prepared, as follows:

Sales are budgeted at $$380,000$ for April. Of these sales, $$114,000$ will be for cash; the remainder will be credit sales. One$-$half of a month's credit sales are collected in the month the sales are made, and the remainder are collected in the following month. All of the April $30$ receivables will be collected in April.

Purchases of inventory are expected to total $$228,000$ during April. These purchases will all be on account. $30\%$ of all purchases are paid for in the month of purchase; the remainder are paid in the following month. All of the March $31$ accounts payable to suppliers will be paid during April.

The April $30$ inventory balance is budgeted at $$76,000.$

Operating expenses for April are budgeted at $$136,800,$ exclusive of depreciation. These expenses will be paid in cash. Depreciation is budgeted at $$3,800$ for the month.

The note payable on the March $31$ balance sheet will be paid during April, with $$130$ in interest. $($All of the interest relates to April.$)$

New refrigerating equipment costing $$8,300$ will be purchased for cash during April.

During April, the company will borrow $$38,000$ from its bank by giving a new note payable to the bank for that amount. The new note will be due in one year.