The management of Zigby Manufacturing prepared the following balance sheet for March 31. ZIGBY MANUFACTURING Balance Sheet March 31 Assets Cash Accounts receivable Raw materials inventory Finished goods inventory Equipment Less: Accumulated depreciation Total assets $ 600,000 150,000 $40,000 Liabilities 344,400 98,500 325,540 450,000 Liabilities and Equity Accounts payable Loan payable Long-term note payable Equity Common stock Retained earnings $ 1,258,440 Total liabilities and equity To prepare a master budget for April, May, and June, management gathers the following information. $ 201,000 12,000 500,000 335,000 210,440 $ 713,000 545,440 $ 1,258,440

The management of Zigby Manufacturing prepared the following balance sheet for March 31 . The management of Zigby Manufacturing prepared the following balance sheet for March 31