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The following information is available for Zetrov Company: The cash budget for March shows an...

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Accounting

The following information is available for Zetrov Company: The cash budget for March shows an ending bank loan of $16,000 and an ending cash balance of $55,800. The sales budget for March indicates sales of $132,000. Accounts receivable are expected to be 70% of the current-month sales. The merchandise purchases budget indicates that $90,200 in merchandise will be purchased on account in March. Purchases on account are paid 100% in the month following the purchase. Ending inventory for March is predicted to be 720 units at a cost of $35 each. The budgeted income statement for March shows net income of $49,200. Depreciation expense of $2,200 and $27,200 in income tax expense were used in computing net income for March. Accrued taxes will be paid in April. The balance sheet for February shows equipment of $82,800 with accumulated depreciation of $31,200, common stock of $31,000, and ending retained earnings of $9,200. There are no changes budgeted in the equipment or common stock accounts.

Prepare a budgeted balance sheet at the end of March.

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