Integration Exercise 9 Master Budgeting LO 8-2?, LO 8-3?, LO 8-4 . LO 8-5?, LO 8-6?, LO 8-7?, LO 8-8 , LO 8-9?, LO 8-10 Endless Mountain Company manufactures a single product that is popular with outdoor recreation enthusiasts. The company sells its product to retailers throughout the northeastern quadrant of the United States. It is in the process of creating a master budget for 2017 and reports a balance sheet at December 31, 2016, as follows Page 769 Endless Mountain Company Balance Sheet December 31,2016 Assets 6 Current assets. 7 Cash 8 Accounts receivable $ 46,200 260,000 11,250 32.250 Raw materials inventory (4,500 yards) 10 Finished goods inventory (1,500 units) 11 Total current assets 12 Plant and equipment 3 Buildings and equipment %- - $349,700 900,000 2000) Accumulated depreciation 15 Plant and equipment, net 16 Total assets 17 18 9 Current liabilities 20 Accounts payable 21 Stockholders' equity 22 Common stock 23 Retained earnings 24 Total stockholders' equity 25 Total liabilities and stockholders' equity 26 608,000 $957 700 Liabilities and Stockholders' Equity $158,000 $419,800 379,900 799,700 $957 700