The management of Zigby Manufacturing prepared the following estimated balance sheet for March 2017:

ZIGBY MANUFACTURING Estimated Balance Sheet March 31, 2017
Assets
Cash	$	51,000
Accounts receivable		483,600
Raw materials inventory		94,100
Finished goods inventory		443,520
Total current assets		1,072,220
Equipment, gross		622,000
Accumulated depreciation		(161,000)
Equipment, net		461,000
Total assets	$	1,533,220
Liabilities and Equity
Accounts payable	$	211,400
Short-term notes payable		23,000
Total current liabilities		234,400
Long-term note payable		515,000
Total liabilities		749,400
Common stock		346,000
Retained earnings		437,820
Total stockholders equity		783,820
Total liabilities and equity	$	1,533,220

To prepare a master budget for April, May, and June of 2017, management gathers the following information:

8. Cash budget. 9. Budgeted income statement for the entire second quarter (not for each month separately). 10. Budgeted balance sheet.

Cash budget. (Negative balances and Loan repayment amounts (if any) should be indicated with minus sign.)

Calculation of Cash receipts from customers:
		April	May	June
Total budgeted sales
Cash sales	35%
Sales on credit	65%
Total cash receipts from customers
		April	May	June
Current month's cash sales
Collections of receivables
ZIGBY MANUFACTURING
Cash Budget
April, May, and June 2017
		April	May	June
Beginning cash balance
Total cash available
Cash payments for:
Total cash payments		0	0	0
Preliminary cash balance
Ending cash balance
Loan balance
		April	May	June
Loan balance - Beginning of month
Additional loan (loan repayment)
Loan balance - End of month

Budgeted income statement for the entire second quarter (not for each month separately). (Round your final answers to the nearest whole dollar.)

ZIGBY MANUFACTURING
Budgeted Income Statement
For Three Months Ended June 30, 2017
Operating expenses
Total operating expenses		0
		0
		$0