Beech's managers made the following additional assumptions and estimates:

$1.$ Estimated sales for July, August, September, and October will be $\backslash (\backslash$$ $410,000,\backslash$$ $430,000,\backslash$$ $420,000\backslash ),$ and $\backslash (\backslash$$ $440,000\backslash ),$ respectively.

$2.$ All sales are on credit and all credit sales are collected. Each month's credit sales are collected $\backslash (45\backslash \%\backslash )$ in the month of sale and $\backslash (55\backslash \%\backslash )$ in the month following the sale. All of the accounts receivable at June $30$ will be collected in July.

$3.$ Each month's ending inventory must equal $\backslash (20\backslash \%\backslash )$ of the cost of next month's sales. The cost of goods sold is $\backslash (70\backslash \%\backslash )$ of sales. The company pays for $\backslash (30\backslash \%\backslash )$ of its merchandise purchases in the month of the purchase and the remaining $\backslash (70\backslash \%\backslash )$ in the month following the purchase. All of the accounts payable at June $30$ will be paid in July.

$4.$ Monthly selling and administrative expenses are always $\backslash (\backslash$$ $58,000\backslash ).$ Each month $\backslash (\backslash$$ $8,000\backslash )$ of this total amount is depreciation expense and the remaining $\backslash (\backslash$$ $50,000\backslash )$ relates to expenses that are paid in the month they are incurred.

$5.$ The company does not plan to borrow money or pay or declare dividends during the quarter ended September $30.$ The company does not plan to issue any common stock or repurchase its own stock during the quarter ended September $30.$ Required $2$A

Required $\backslash (2$ B $\backslash )$

Required $4$

Prepare a balance sheet as of September $30.$

$\backslash$begin$\{$tabular$\}\{|$c$|$c$|$c$|\}$

$\backslash$hline $\backslash$multicolumn$\{3\}\{|$l$|\}\{$Beech Corporation$\}\backslash \backslash$

$\backslash$hline $\backslash$multicolumn$\{3\}\{|$l$|\}\{$Balance Sheet$\}\backslash \backslash$

$\backslash$hline $\backslash$multicolumn$\{3\}\{|$l$|\}\{$September $30\}\backslash \backslash$

$\backslash$hline $\backslash$multicolumn$\{3\}\{|$l$|\}\{$Assets$\}\backslash \backslash$

$\backslash$hline $\backslash$multicolumn$\{3\}\{|$l$|\}\{$Cash$\}\backslash \backslash$

$\backslash$hline $\backslash$multicolumn$\{3\}\{|$l$|\}\{$Accounts receivable$\}\backslash \backslash$

$\backslash$hline Inventory & & $61,600\backslash \backslash$

$\backslash$hline $\backslash$multicolumn$\{3\}\{|$l$|\}\{$Plant and equipment, net $206,000\}\backslash \backslash$

$\backslash$hline $\backslash$multicolumn$\{3\}\{|$l$|\}\{\}\backslash \backslash$

$\backslash$hline $\backslash$multicolumn$\{3\}\{|$l$|\}\{(\}\backslash \backslash$

$\backslash$hline Total assets & $\backslash$$ & $267,600\backslash \backslash$

$\backslash$hline $\backslash$multicolumn$\{3\}\{|$l$|\}\{$Liabilities and Stockholders' Equity$\}\backslash \backslash$

$\backslash$hline $\backslash$multicolumn$\{3\}\{|$l$|\}\{$Accounts payable$\}\backslash \backslash$

$\backslash$hline $\backslash$multicolumn$\{3\}\{|$l$|\}\{$Common stock $312,000\}\backslash \backslash$

$\backslash$hline $\backslash$multicolumn$\{3\}\{|$l$|\}\{$Retained earnings $330,100\}\backslash \backslash$

$\backslash$hline $\backslash$multicolumn$\{3\}\{|$l$|\}\{\}\backslash \backslash$

$\backslash$hline $\backslash$multicolumn$\{3\}\{|$l$|\}\{\}\backslash \backslash$

$\backslash$hline Total liabilities and stockholders' equity & $\backslash$$ & $642,100\backslash \backslash$

$\backslash$hline

$\backslash$end$\{$tabular$\}$