The management of Zigby Manufacturing prepared the following estimated balance sheet for March 2017 ZIGBY MANUFACTURING Estimated Balance Sheet March 31, 2017 Assets Cash 48,000 Accounts receivable 438,750 Raw materials inventory 87,900 Finished goods inventory 383,760 Total current assets 958, 410 Equipment, gross 616,000 Accumulated depreciation (158,000) Equipment, net 458,000 Total assets $1,416,410 Liabilities and Equity Accounts payable 187,200 Short-term notes payable 20,000 Total current liabilities 207,200 Long-term note payable 508,000 Total liabilities 715, 200 Common stock 343,000 Retained earnings 358,210 Total stockholders' equity 781,210 Total liabilities and equity $1,416,410 To prepare a master budget for April, May, and June of 2017, management gathers the following information: Sales for March total 19 500 units Forecasted sales in units are as follows Anril 19500 MAY 17100 June 21300