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value: 10.00 points Minden Company is a wholesale distributor of premium European chocolates. The company's balance sheet as of April 30 is given below: inden Sheet April 30 Cash $ 12,000 77,500 42.000 225,000 Inventory Buildings and equipment, net of depreciation Total assets 356,500 Liabilities and Stockholders' Equity $ 78,250 19,300 180,000 78,950 Common stock Retained earnings and holders' equity $ 356,500 The company is in the process of preparing a budget for May and has assembled the following data: a Sales are budgeted at $231,000 for May. Of these sales, $69,300 will be for cash; the remainder will be credit sales. One-half of a month's credit sales are collected in the month the sales are made, and the remainder is collected in the following month. All of the April 30 accounts receivable will be collected in