courses / Seneca 05/2020) HRM 732 - NW / MAP: Chapter 7: Master Budget / MAP: Chapter 7 Post-Class Homework Take me to the text Sarah, the sole stockholder of Barnie Inc., runs a home-cleaning service in the suburb of a large city. Her balance sheet as at June 30, 2019 is as follows: Barnie Inc. Balance Sheet As at June 30, 2019 Assets Cash $5.400 Accounts Receivable $18,200 Equipment $9,000 Accumulated Depreciation $-1,100 Total Assets $31,500 Liabilities Accounts Payable $2400 Notes Payable $11,100 Total abilities $13,500 Stockholder's Equity $18,000 Total Liabilities & Stockholder's Equity 531,500 In the upcoming year, Sarah expects the following events to occur In the upcoming year, Sarah expects the following events to occur Total revenues of $29,000 and total expenses of $16,090 100% of accounts receivable from the prior year will be collected in the following year Credit sales will represent 58% of revenues for the year 100% of accounts payable owing from 2019 will be paid off in 2020 . By the end of June, 2020, Barnie will owe its suppliers $3,500 No principal payments will be made on the bank loan during 2019 Purchase of new equipment for $2,200. The entire purchase will be financed through a bank loan Expect to have a cash balance of $21,700 at the end of fiscal 2020 Depreciate assets by $910 during 2020 Do not enter dollar signs or commas in the input boxes Use the negative sign for negative values Prepare Barnie Inc's budgeted balance sheet as at June 30, 2020. Barnie Inc. Budgeted Balance Sheet As at June 30, 2020 Assets Cash $ 21700 Accounts Receivable $ Equipment S Accumulated Depreciation $ Total Assets S Total Assets Liabilities Accounts Payable VA Notes Payable $ Total Liabilities $ Stockholder's Equity Total Liabilities & Stockholder's Equity $