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 $50,000 434.240 84.210 368,000 Total current assets Equipment, gross Accumulated depreciation 936,450 602,000 (151,000) Equipment, net 451,000 Total assets 1,387450 Liablities and Equity Accounts payable Short-tem notes payable 196,610 2,000 Total current liabilities Long-term note payable $ 208,610 505,000 Total liabilities Common stock Retained earnings 713,610 336,000 337840 Total stockholders' equity 673,840 Total liabilities and equity 1,387,450