Webster Corporation's monthly projected general and administrative expenses include $4,500 administrative salaries, $1,900 of other cash administrative expenses, $2,100 of depreciation expense on the administrative equipment, and .5% monthly interest on an outstanding bank loan of $25,000. Compute the total general and administrative expenses to be reported on the general and administrative expense budget per month.

Grason Corporation is preparing a budgeted balance sheet for 2018. The retained earnings balance at December 31, 2017 was $527,500. The 2018 budgeted income statement shows expected net income of $109,000. The company expects to declare dividends during 2018 amounting to $37,000. The expected balance in retained earnings on the 2018 budgeted balance sheet is: