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 17,000 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