Use the following information to prepare a budgeted balance sheet for Marine 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 Beginning balance Receipts Payments for inventory, liabilities, and other expenses $ 11,400 14,000 19,000 Next determine the formula, then compute the ending owners' equity Ending cash balance $ 7,000 Beginning balance $ 20.000 + + Sales revenue 12,200 - Cost of goods sold and depreciation and other expenses - 11,580 Stockholders equity $ 29,620 Prepare the asset section of the balance sheet, then prepare the abilities and owners' equity section Prepare the asset section of the balance sheet, then prepare the liabilities and owners' equity section. Marine Corporation Budgeted Balance Sheet March 31 Assets Current assets: Cash Accounts receivable Inventory Total current assets Plant assets: Furniture and fixtures Accumulated depreciation Total assets * Data Table a. March 31 inventory balance, $17,040. b. March payments for inventory, $4,300. c. March payments of accounts payable and accrued liabilities, $8,700. d. March 31 accounts payable balance, $1,600. e. February 28 furniture and fixtures balance, $34,700; accumulated depreciation balance, $29,870. f. February 28 stockholders' equity, $29,000. g. March depreciation expense, $700. h. Cost of goods sold, 40% of sales i. Other March expenses, including income tax, total $6,000; paid in cash. February 28 cash balance, $11,400. k. March budgeted sales, $12,200. 1. March 31 accounts receivable balance, one-fourth of March sales. m. March cash receipts, $14,600. Print Done Done