Almasa Limited, a merchandising company sells a single product, which they call Toodle to various retail outlets located in shopping malls across the country. You have just been hired as a hew management accountant by Almasa Limited. In the past, the company has done very little in the way of budgeting and at certain times of the year has experienced a shortage of cash. Since you are well trained in budgeting. you have decided to prepare a comprehensive budget for the upcoming second quarter of 2017 (April-June) in order to show management the benefits that can be gained from an integrated budgeting program. To this end, you have worked with accounting and other areas to gather the information assembled below. As of March 31, 2017 (the end of the prior quarter), the company's balance sheet showed the following accounts balances: a. Assets Current assets 84,000 Cash Accounts receivable (S44,800 February sales; $537,600 March sales) 582,400 134,000 Inventory 18,200 Unexpired insurance 1,407,800 Plant assets Property and equipment 350,000 Accumulated depreciation 1.057.800 Total assets 1,876,400