Case Study #2 Budgeting Glow, Inc. is interested in purchasing some new manufacturing equipment right after the beginning of the new year. They would like to finance the new equipment with cash and marketable securities, but if necessary they can get a short-term loan from a local bank. You have been engaged to prepare a master budget for Glow, Inc. for the first quarter of 2016. Glow, Inc. is a small, rapidly growing manufacturer of lighting equipment. The companys main product line is table lamps. The marketing manager has recently completed a sales forecast. She believes the companys sales during the first quarter of 2016 will increase by 15 percent each month over the previous months sales. Then sales are expected to remain constant for several months. Glow Inc.s projected balance sheet as of December 31, 2015 is as follows: