The management of Zigby Manufacturing prepared the following estimated balance sheet for March, 2015:

The management of Zigby Manufacturing prepared the following estimated balance sheet for March, 2015: ZIGBY MANUFACTURING Estimated Balance Sheet March 31, 2015 Assets Cash Accounts receivable Raw materials inventory Finished goods inventory $ 44,000 500,000 90,200 444,000 Total current assets Equipment, gross Accumulated depreciation 1,078,200 608,000 (154,000) Equipment, net 454,000 Total assets $1,532,200 Liabilities and Equity Accounts payable Short-term notes payable 211,300 16,000 $ 227,300 505,000 Total current liabilities Long-term note payable Total Tiabilities Common stock Retained earnings 732,300 339,000 460,900 Total stockholders' equity 799,900 lotal liabilities and equity $1,532,200