Prepare a budgeted balance sheet at March $31$ using the following information from Zimmer Company.

a$.$ The cash budget for March shows an ending loan balance of $$18,500$ and an ending cash balance

b$.$ The sales budget for March shows sales of $$137,000.$ Accounts receivable at the end of March are budgeted to be $60\%$ of March

sales.

c$.$ The merchandise purchases budget shows that $$90,700$ in merchandise will be purchased on credit in March. Purchases on

credit are paid $100\%$ in the month following the purchase.

d$.$ Ending merchandise inventory for March is budgeted to be $770$ units at a cost of $$30$ each.

e$.$ Income taxes payable of $$27,700$ are budgeted at the end of March.

f$.$ Accounting records at the end of March show budgeted equipment of $$82,300$ with accumulated depreciation of $$34,400.$

g$.$ Common stock of $$33,500$ and retained earnings of $$59,400$ are budgeted at the end of March.

ZIMMER COMPANY

Budgeted Balance Sheet

As of March $31$