The management of Zigby Manufacturing prepared the following balance sheet for March 31. Cash Accounts receivable Raw materials inventory Assets ZIGBY MANUFACTURING Balance Sheet March 31 Liabilities and Equity Liabilities $ 184,000 1,584,240 Accounts payable 453,100 Loan payable 1,497,484 Long-term note payable Equity Finished goods inventory Equipment $ 2,760,000 Less: Accumulated depreciation 690,000 Total assets $ 5,788,824 Total liabilities and equity 2,070,000 Common stock Retained earnings $ 924,600 12,000 2,300,000 1,541,000 1,011,224 $ 3,236,600 2,552,224 $ 5,788,824 To prepare a master budget for April, May, and June, management gathers the following information. a. Sales for March total 94,300 units. Budgeted sales in units follow: April, 94,300; May, 89,700; June, 92,000; and July, 94,300. The product's selling price is $24.00 per unit and its total product cost is $19.85 per unit.