Please help with P8-27

P8-27 0 Help Save & Exit Submit Check my work merchandising company that is preparing a budget for the three-month period ended June 30n. The folowing information is available 20 20 points Balance Sheet Accounts recelvable Inventory buildings and equipment, net of depreeiation1 999 Total assets 55.400 41,200 3,200 329,800 Prine Liabilities and Stockhelders quity s 143,500 0,000 References Retained earnings total liabllities and stoekholders equity 329 Hay 144 000 $154,000$174,000 Cost of goods sold Gross sargi Net operating icome 37 30039,80044,00 Budgeting Assumptions 60% of sales are cash sales and 40% of sales are credit sales Twenty percent of am credt sales are collected in the month of sale