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

management of Zigby Manufacturing prepared the Toowing estimated balance shee ZIGBY MANUFACTURING Estimated Balance Sheet March 31, 2015 Assets Cash Accounts receivable Raw materials inventory Finished goods inventory 69,000 432,000 86,000 348,480 Total current assets Equipment, gross Accumulated depreciation 935,480 614,000 (157,000) Equipment, net 457,000 Total assets $ 1,392.480 Liabilities and Equity Accounts payable Short-term notes payable 178,700 19,000 Total current liabilities Long-term note payable S 197,700 515,000 Total liabilities Common stock etained earnings 712,700 342,000 337780 Total stockholders' equity 679,780 otal liabilities and equity $ 1,392,480