The management of Zigby Manufacturing prepared the following estimated balance sheet for March 2017 ZIGBY MANUFACTURING Estimated Balance Sheet March 31, 2017 Assets Cash $ 80,000 Accounts receivable 364,000 Raw materials inventory 96,000 Finished goods inventory 364,800 Total current assets 904,800 Equipment, gross 610,000 Accumulated depreciation (155,000) Equipment, net 455,000 Total assets $1,359,800 Liabilities and Equity Accounts payable $ 195,500 Short-term notes payable Total current liabilities 212,500 Long-term note payable 510,000 Total liabilities 722,500 Common stock 340,000 Retained earnings 297, 300 Total stockholders' equity 637,300 Total liabilities and equity$1,359,800 To prepare a master budget for April, May, and June of 2017, management gathers the following information: a. Sales for March total 20,000 units. Forecasted sales in units are as follows: April, 20,000; May, 19,000: June 19,500; and July. 20.000. Sales of 245,000 units are forecasted for the entire year. The product's selling price is $26.00 per unit and its total product cost is $22.80 per unit. b. Company policy calls for a given month's ending raw materials inventory to equal 50% of the next month's materials requirements The March 31 raw materials inventory is 4,800 units, which complies with the policy. The expected June 30 ending raw materials