Delectable Doughnuts has applied for a loan with a local bank. The bank has requested a budgeted balance sheet as of May 31. 2023. The controller of Delectable has assembled the following information: View the information. Prepare a budgeted balance sheet for Delectable Doughnuts. Begin by calculating Delectable's budgeted inoome for May 2023. Information Delectable Doughnuts Budgeted Income Statement May 31 inventory balance: $18,500 For the Month ENdEd May 31, 2023 May payments of inventory paid for in cash: $4,900 May payments of accounts payable and accrued liabilities from April: $7,600 May 31 accounts payable balance: $10,800 April 30 fumiture and xtures: $35,500, with accumulated depreciation of $26,500 April 30 owner's equity: $28,115 May depreciation expense: $680 Cost of goods sold: 35% of sales N91 income ('055) = Other May expenses, including income taxes: $5,500, paid in cash April 30 cash balance: $12,500 May budgeted sales: $19,100 Cash Accumulated Depreciation May 31 accounts receivable balance: 30% of May sales Beg. Bal. Beg. Bal. May cash receipts: $18,100 Next, complete the following select Taccounts. End. Bal. End. Bal. @ Furniture and Fixtures Owner's equity Beg. Bal. Beg. Bal. End. Bal. End. Bal. Prepare the budgeted balance sheet. Delectable Doughnuts Budgeted Balance Sheet May 31, 2023 Assets Liabilities E E E E : Owner's equity Total Assets l;l Total liabilities and owner's equity |;|