The management of Zigby Manufacturing prepared the following estimated balance sheet for March, 2015 ZIGBY MANUFACTURING Estimated Balance Sheet March 31, 2015 Assets $ 46,000 386,925 96,290 327,831 Cash Accounts receivable Raw materials inventory Finished goods inventory 857046 612,000 (156,000) Total current assets Equipment, gross Accumulated depreciation Equipment, net 456,000 Total assets $1.313.046 Liabilities and Equity Accounts payable 196,190 18,000 Short-term notes payable Total current liabilities Long-term note payable $214,190 06,000 Total liabilities Common stock Retained earnings 720,190 41.000 251,856 Total stockholders' equity 592,856 Total liabilities and equity $1.313,046