The management of Zigby Manufacturing prepared the following balance sheet for March 31. ZIGBY MANUFACTURING Balance Sheet March 31 Assets Liabilities and Equity Cash Accounts receivable Raw materials inventory $ 65,000 Liabilities 421,470 Accounts payable $ 199,400 87,500 Loan payable Finished goods inventory 374,640 Long-term note payable. 24,000 500,000 $ 723,400 Equipment Less: Accumulated depreciation $624,000. 162,000 Equity 462,000 Common stock Retained earnings 347,000 340,210 Total assets: $1,410,610 Total liabilities and equity 687,210 $1,410,610 To prepare a master budget for April, May, and June, management gathers the following information. July 22 300 The