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 $11,000 and an ending cash balance of $61,500. b. The sales budget for March shows sales of $122,000. Accounts receivable at the end of March are budgeted to be 60% of March sales. c. The merchandise purchases budget shows that $89,200 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 620 units at a cost of $35 each. e. Income taxes payable of $26.200 are budgeted at the end of March. 1. Accounting records at the end of March show budgeted equipment of $83,800 with accumulated depreciation of $31,400. 9. Common stock of $26,000 and retained earnings of $56,400 are budgeted at the end of March. ZIMMER COMPANY Budgeted Balance Sheet As of March 31