Refer to Problems P22- 47B and P22- 48B. Requirements 1. Prepare Betas budgeted income statement for the first quarter of 2015. 2. Prepare Betas budgeted

Refer to Problems P22- 47B and P22- 48B.

Requirements
1. Prepare Beta’s budgeted income statement for the first quarter of 2015.
2. Prepare Beta’s budgeted balance sheet for March 31, 2015.
3. Prepare Beta’s budgeted statement of cash flows for the first quarter of2015.

BETA BATTING COMPANY Balance Sheet December 31, 2014 Assets Current Assets: Cash Accounts Recevable Raw Materials Inwentory Finished Goods Inventory Total Current Assets 30,000 24,500 13,000 21,000 $ 88,500 Property, Plant, and Equipment Equipment Less: Accumulated Depreciation 125,000 (50,000) 75,000 163,500 Total Assets Liabilities Current Liabilities: Accounts Payable 14,000 Stockholders' Equity 100,000 49,500 Common Stock Retained Earnings Total Stockholders Equity Total Liabdities and Stodholders' Equity 149,500 S 163,500