Use the following information to prepare a budgeted balance sheet for Luda Corporation at March 31. Show computations for the cash and stockholders' equity amounts EEB (Click the icon to view the March operating information.) Begin by determining the formula, then compute the ending cash balance Ending - cash balance Next determine the formula, then compute the ending owners' equity Stockholders equity Data Table Prepare the asset section of the balance sheet, then prepare the liabilities and owners' equity section. Luda Corporation Budgeted Balance Sheet March 31 a. March 31 inventory balance, $18,265 b. March payments for inventory, $4,600 C. March payments of accounts payable and accrued liabilities, $8,700 d. March 31 accounts payable balance, $1,700 e. February 28 furniture and fixtures balance, $34,600, accumulated depreciation balance, $29,860 f. February 28 stockholders' equity, $30,000 g. March depreciation expense, $400 h. Cost of goods sold, 40% of sales. i. Other March expenses, including income tax, total $9,000, paid in cash. j. February 28 cash balance, $11,600 k. March budgeted sales, $12,300 Assets Current assets Cash Accounts receivable Inventory Total current assets I. March 31 accounts receivable balance, one-fourth of March sales m. March cash receipts, $14,700 Plant assets Furniture and fixtures Print Done Accumulated depreciation Total assets Liabilities Current Liabilities: Accounts payable Total liabilities Stockholders' Equity Total stockholders' equity Total liabilities and stockholders' equity Use the following information to prepare a budgeted balance sheet for Luda Corporation at March 31. Show computations for the cash and stockholders' equity amounts EEB (Click the icon to view the March operating information.) Begin by determining the formula, then compute the ending cash balance Ending - cash balance Next determine the formula, then compute the ending owners' equity Stockholders equity Data Table Prepare the asset section of the balance sheet, then prepare the liabilities and owners' equity section. Luda Corporation Budgeted Balance Sheet March 31 a. March 31 inventory balance, $18,265 b. March payments for inventory, $4,600 C. March payments of accounts payable and accrued liabilities, $8,700 d. March 31 accounts payable balance, $1,700 e. February 28 furniture and fixtures balance, $34,600, accumulated depreciation balance, $29,860 f. February 28 stockholders' equity, $30,000 g. March depreciation expense, $400 h. Cost of goods sold, 40% of sales. i. Other March expenses, including income tax, total $9,000, paid in cash. j. February 28 cash balance, $11,600 k. March budgeted sales, $12,300 Assets Current assets Cash Accounts receivable Inventory Total current assets I. March 31 accounts receivable balance, one-fourth of March sales m. March cash receipts, $14,700 Plant assets Furniture and fixtures Print Done Accumulated depreciation Total assets Liabilities Current Liabilities: Accounts payable Total liabilities Stockholders' Equity Total stockholders' equity Total liabilities and stockholders' equity