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Deacon Company is a merchandising company that is preparing a budget for the three-month period...

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Accounting

Deacon Company is a merchandising company that is preparing a budget for the three-month period ended June 30th. The following information is available
\table[[\table[[Deacon Company],[Balance Sheet],[March 31]],],[Assets],[Cash,,$55,000,],[Accounts receivable,,36,000,],[Inventory,,40,000,],[Buildings and equipment, net of depr,Lation,100,000,],[Total assets,,$231,000,],[\table[[Liabilities and Stockholders' Equity],[Accounts payable],[Common stock],[Retained earnings]],,\table[[$51,300
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