Use the following information to prepare a budgeted balance sheet for Stitch Corporation at March $31.$ Show computations for the cash and stockholders' equity amounts.

$($Click the icon to view the March operating information.$)$

Begin by determining the formula, then compute the ending cash balance.

Ending

$=$ cash balance

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Data table

a$.$ March $31$ inventory balance, $$10,400.$

b$.$ March payments for inventory, $$4,400.$

c$.$ March payments of accounts payable and accrued liabilities, $$8,200.$

d$.$ March $31$ accounts payable balance, $$2,400.$

e$.$ February $28$ furniture and fixtures balance, $$34,500$; accumulated depreciation balance, $$29,850.$

f$.$ February $28$ stockholders' equity, $$23,000.$

g$.$ March depreciation expense, $$500.$

h$.$ Cost of goods sold, $50\%$ of sales.

i$.$ Other March expenses, including income tax, total $$6,000$; paid in cash.

j$.$ February $28$ cash balance, $$11,600.$

k$.$ March budgeted sales, $$12,200.$

I. March $31$ accounts receivable balance, one$-$fourth of March sales.

m$.$ March cash receipts, $$14,400.$