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, gross Accumulated depreciation Equipment, net Total assets Liabilities and Equity Accounts payable Short-term notes payable Total current liabilities Long-term note payable Total liabilities Common stock Retained earnings Total stockholders' equity Total liabilities and equity $ 46,000 386,925 96,290 327,831 857,046 612,000 (156,000) 456,000 $ 1,313,046 $ 196,190 18,000 214,190 506,000 720,190 341,000 251,856 592,856 $ 1,313,046 To prepare a master budget for April, May, and June of 2017, management gathers the following information: