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 $ 99,000 500,250 101,000 402,500 1,102,750 618,000 159,000) 459,000 $1,561,750 Liabilities and Equity Accounts payable Short-term notes payable Total current liabilities Long-term note payable Total liabilities Common stochk Retained earnings Total stockholders'equity Total 1iabilities and equity 209,700 21,000 230,700 505,000 735,700 344,000 482,050 826, 050 $1,561,750