The management of Zigby Manufacturing prepared the following estimated balance sheet for March 201 ZIGBY MANUFACTURING Estimated Balance Sheet March 31, 2017 Assets Cash Accounts receivable Raw materials inventory Finished goods inventory Total current assets Equipment, groSS Accumulated depreciation Equipment, net Total assets $ 69,000 432,000 86,000 348,480 935,480 614,000 157,000 457,000 $ 1,392,480 Liabilities and Equity Accounts payable Short-term notes pavable Total current liabilities Long-term note payable Total liabilities Common stock Retained earnings Total stockholders' equity Total liabilities and equity $ 178,700 19,000 197,700 515,000 712,700 342,000 337,780 679,780 $ 1,392,480