The results of operations for the Beca Manufacturing Company for the fourth quarter of 2020 were as follows:

Sales					$	693,000
Less variable cost of sales						425,000
Contribution margin						268,000
Less fixed production costs		$	142,000
Less fixed selling and administrative expenses			67,000			209,000
Income before taxes						59,000
Less taxes on income						23,600
Net income					$	35,400

Note: Beca Manufacturing uses the variable costing method. Thus, only variable production costs are included in inventory and cost of goods sold. Fixed production costs are charged to expense in the period incurred. The companys balance sheet as of the end of the fourth quarter of 2020 was as follows:

Assets:
	Cash		$	197,000
	Accounts receivable			268,000
	Inventory			492,000
	Total current assets			957,000
	Property, plant, and equipment			559,000
	Less accumulated depreciation			134,000
Total assets			$	1,382,000
	Liabilities and owners equity:
	Accounts payable		$	75,800
	Common stock			685,000
	Retained earnings			621,200
	Total liabilities and owners equity		$	1,382,000

Can you please help me create a Budgeted balance sheet from this information?? Please do show your work. An example of the Budgeted Balance Sheet Is listed below.

Additional information:

1.		Sales and variable costs of sales are expected to increase by 12 percent in the next quarter.
2.		All sales are on credit with 60 percent collected in the quarter of sale and 40 percent collected in the following quarter.
3.		Variable cost of sales consists of 40 percent materials, 40 percent direct labor, and 20 percent variable overhead. Materials are purchased on credit. Fifty percent are paid for in the quarter of purchase, and the remaining amount is paid for in the quarter after purchase. The inventory balance is not expected to change. Also, direct labor and variable overhead costs are paid in the quarter the expenses are incurred.
4.		Fixed production costs (other than $10,000 of depreciation expense) are expected to increase by three percent. Fixed production costs requiring payment are paid in the quarter they are incurred.
5.		Fixed selling and administrative costs (other than $8,000 of depreciation expense) are expected to increase by two percent. Fixed selling and administrative costs requiring payment are paid in the quarter they are incurred.
6.		The tax rate is expected to be 20 percent. All taxes are paid in the quarter they are incurred.
7.		No purchases of property, plant, or equipment are expected in the first quarter of 2021.

Drop Down Options:

For the Month Ended March 31. 2021

For the Year Ended March 31. 2021

For the quarter ended March 31. 20

Current Assets

Current Intangibles

Liabilities

Long-term Investments

Long-Term Liabilities

Net Income/(loss)

Property, plant, and equipment

Stockholders Equity

Total Assets

Total Current Assets

Total Intangible Assets

Total Liabilities

Total Liabilities & Stockholders Equity

total Long-term Investments

Total Long-Term Liabilities

Total Property, plant, and equipment

Total Stockholders Equity

less or ADD

THANK YOU!

Prepare a budgeted balance sheet as of the end of the first quarter of 2021. (List assets in order of liquidity.) Beca Manufacturing Company Budgeted Balance Sheet For the Quarter Ended March 31, 2021 Assets $ $ Liabilities and Owners' Equity $ $