The management of Zigby Manufacturing prepared the following estimated balance sheet for March 2017 ZIGBY MANUFACTURING Estimated Balance Sheet March 31, 2017 Assets Cash Accounts receivable Raw materials inventory Finished goods inventory Total current assets Equipment, Accumulated depreciation Equipment, net Total assets $80,000 364,000 96,000 364,800 904,800 610,000 155,000 455,000 $1,359,800 gross Liabilities and Equity Accounts payable Short-term notes payable Total current liabilities Long-term note payable Total liabilities Commonstock Retained earnings Total stockholders' equity Total liabilities and equity 195,500 17,000 212,500 510,000 722, 500 340,000 297,300 637, 300 $1,359,800