RE Begin by completing the accounting equation for the 2019 transactions, (Use a minus sign or parentheses to enter account reductions and contra asset balances and activity. If a box is not used in the equation leave the box empty, do not enter a zero. Abbreviations used.) Cash + AIR + RM Iny. + FG Iny Equip (AD) A/P + cs Dec. 31, 2018 Sales on acct. Cash recpts. Purch. RM * Data Table Pmts on acct. RM used Berkson, Inc. Direct labor Balance Sheet December 31, 2018 Mirg. OH Assets Depr. Current Assets: COGS Cash $ 2,800 Accounts Receivable 1,100 Sand A Raw Materials Inventory 600 Purch equip Finished Goods Inventory 1,050 Dec 31, 2019 - - Total Current Assets 5,550 Property, Plant, and Equipment: Prepare a budgeted balance sheet for Berkson, Inc. for December 31, 2019. Equipment 8,000 Berkson, Inc. More Info Less: Accumulated Budgeted Balance Sheet Depreciation (1,200) 6,800 December 31, 2019 Total Assets $ 12,350 Sales on account, $21,000 Assets Liabilities Cash receipts from customers from sales on account, Current Assets: $20,200 Current Liabilities: Purchase of raw materials on account, $2,500 Accounts Payable $ 1,900 Payments on account. $1.000 Stockholders' Equity Total cost of completed products. $14,000, which includes Common Stock, no par $ 8.000 the following: Retained Raw materials used, $2,000 Earnings 2.450 Total Current Assets Direct labor costs incurred and paid, S5,100 Total Stockholders' Equity 10,450 Manufacturing overhead costs incurred and paid, Property, Plant, and Equipment $6.500 Total Liabilities and Stockholders' $ 12,350 Depreciation on manufacturing equipment, $400 Equity Cost of goods sold, $12,600 Selling and administrative costs incurred and paid $3,500 Total Assets Print Done Purchase of equipment, paid in 2019, $1,500 Llabilities Current Liabilities: Print Done Stockholders' Equity Total Stockholders' Equity Total Liabilities and Stockholders' Equity