The management of Zlgby Manufacturing prepared the following estimated balance sheet for March, 2015 ZIGBY MANUFACTURING Estimated Balance Sheet March 31, 2015 Assets 59,000 Cash Accounts recelvable 487.500 93,010 Raw materials Inventory Finished goods inventory 433,000 Total current assets 1,072,510 Equipment, gross 638.000 (169,000) Accumulated depreclatlon Equipment, net 469,000 Total assets 1,541,510 Liabilities and Equity 215,410 Accounts payable 31,000 Short-term notes payable Total current liabllitles 246,410 530.000 Long-term note payable Total abilties 776,410 Common stock 354,000 411100 Retained earnings Total stockholders' equity 765100 Total abilities and equity 1,541,510