The following information is available for Zetrov Company: a. The cash budget for March shows an ending bank loan of $14,500 and an ending cash balance of $57,300 b. The sales budget for March indicates sales or $129,000. Accounts receivable are expected to be 70% of the current-month sales c. The merchandise purchases budget indicates that $89,900 in merchandise will be purchased on account in March Purchases on account are paid 100% in the month following the purchase Ending inventory for March is predicted to be 690 units at a cost of $30 each d. The budgeted income statement for March shows net income of $48.900. Depreciation expense of $1,900 and $26,900 in income tax expense were used in computing net income for March Accrued taxes will be paid in April e. The balance sheet for February shows equipment of $83,100 with accumulated depreciation of $30,900, common stock of $29,500, and ending retained earnings of $8.900. There are no changes budgeted in the equipment or common stock accounts Prepare a budgeted balance sheet at the end of March HINT - You will need to include net income in determining ending retained earnings ZETROV COMPANY Budgeted Balance Sheet As of March 31 Assets Cash Accounts receivable Merchandise Inventory 57,300 90.300 20,700 Total current assets S 168,300 S Equipment Accumulated depreciation 83,100 32,800 Total assets 50,300 218,600 $ Liabilities $ 89.900 Accounts payable Bank loan payable Income taxes payable 14,500 26,900 Total liabilities 131,300 Equity Common stock 29,500 57 800 Retained earnings Total Stockholders' Equity Total Liabilities and Equity 87,300 218,600 $