The management of Zigby Manufacturing prepared the following balance sheet for March 31. ZIGBY MANUFACTURING Balance Sheet March 31 Assets Liabilities and Equity Cash $ 128,000 Liabilities Accounts receivable 1,102,080 Accounts payable $ 643,200 Raw materials inventory 315,200 Loan payable 12,000 Finished goods inventory 1,041,728 Long-term note payable 1,600,000 $ 2,255,200 Equipment $ 1,920,000 Equity Less: Accumulated depreciation 480,000 1,440,000 Common stock 1,072,000 Retained earnings 699,808 1,771,808 Total assets $ 4,027,008 Total liabilities and equity $ 4,027,008 To prepare a master budget for April, May, and June, management gathers the following information. Sales for March total 65,600 units. Budgeted sales in units follow: April, 65,600; May, 62,400; June, 64,000; and July, 65,600