Using the data above, prepare a master budget for Mario Corporation.

Mario A Corporation is preparing the budgeted financial statements for the year 2018. The actual balance sheet as of 12/31/17 follows: Mario A Corporation Balance Sheet Year end 12/31/2017. Assets Current assets Liabilities & Shareholders Equity Current liabilities Cash and equivalents Short term investments Net receivables Inventories Other current assets $36,383,000 $47,574,000 $11,456,000 $11,850,000 $6,843,000 Accounts payable Warranties Accrued expenses.. Revolving line of credit Other current liabilities $32,842,000 $7,500,000 $2,210,000 $0 $1,348,000 Total current $114,106,000 Total current $43,900,000 Non-current liabilities Non-current assets Long term debt $64,093,500 $64,093,500 $107,993,500 Total non-current Long term investments Property plant and equipment Other assets $64,257,000 $42,000,000 $7,985,000 Total liabilities $114,242,000 $228,348,000Shareholders equity Total non-current Total assets Common stock Treasury stock Retained earnings $10,350,000 15,219,000 $125,223,500 Total shareholders equity Total liabilities & shareholders equity $120,354,500 $228,348,000 Mario A Corporation operates many divisions. One oftheir divisions, "Enzo Legacy" sells three models of a luxury automobile built for speed. (Assume all information, financials and data provided pertain to the Enzo Legacy division.) The Testarossa is the largest version which boasts seating for four but still has the ability to reach top speeds in seconds. The Mondial is the top seller with its sleek design, modern technologies, and seating for two. The Scaglietti is the smallest model very similar to the Mondial but slightly faster. Mario A's automobiles are highly specialized and they are only sold in Dallas, Texas. People travel from all over the world to see and purchase Mario A's automobiles but the President is unhappy with the current profit margins, or lack of, for the Enzo Legacy division. Mario A Corporation is exploring new branding and marketing ideas in an effort to increase business for the Enzo Legacy division. In doing so, the President has asked the Chief Financial Officer, the Chief Development Officer, the Chief Marketing Officer, and you, the business consultant for input and ideas on how to increase profit margins If the company does nothing different for 2018, the President expects the following sales: Model Testarossa Mondial Scaglietti Sales Price $1,500,000 $975,000 $600,000 Units Sold 45 140 100 Total $67,500,000 $136,500,000 $60,000,000 Based upon historical data, 80% of sales revenue is collected in the year of the sale with 10% collected in the year following the sale, 10% of sales is the estimated bad debt amount. In following GAAP, Mario A makes this estimate at year end and records the expense in the year of sale. The net receivables balance on 12/31/2017 consists of the 10% uncollected balance of 2017 sales. Mario A Corporation is preparing the budgeted financial statements for the year 2018. The actual balance sheet as of 12/31/17 follows: Mario A Corporation Balance Sheet Year end 12/31/2017. Assets Current assets Liabilities & Shareholders Equity Current liabilities Cash and equivalents Short term investments Net receivables Inventories Other current assets $36,383,000 $47,574,000 $11,456,000 $11,850,000 $6,843,000 Accounts payable Warranties Accrued expenses.. Revolving line of credit Other current liabilities $32,842,000 $7,500,000 $2,210,000 $0 $1,348,000 Total current $114,106,000 Total current $43,900,000 Non-current liabilities Non-current assets Long term debt $64,093,500 $64,093,500 $107,993,500 Total non-current Long term investments Property plant and equipment Other assets $64,257,000 $42,000,000 $7,985,000 Total liabilities $114,242,000 $228,348,000Shareholders equity Total non-current Total assets Common stock Treasury stock Retained earnings $10,350,000 15,219,000 $125,223,500 Total shareholders equity Total liabilities & shareholders equity $120,354,500 $228,348,000 Mario A Corporation operates many divisions. One oftheir divisions, "Enzo Legacy" sells three models of a luxury automobile built for speed. (Assume all information, financials and data provided pertain to the Enzo Legacy division.) The Testarossa is the largest version which boasts seating for four but still has the ability to reach top speeds in seconds. The Mondial is the top seller with its sleek design, modern technologies, and seating for two. The Scaglietti is the smallest model very similar to the Mondial but slightly faster. Mario A's automobiles are highly specialized and they are only sold in Dallas, Texas. People travel from all over the world to see and purchase Mario A's automobiles but the President is unhappy with the current profit margins, or lack of, for the Enzo Legacy division. Mario A Corporation is exploring new branding and marketing ideas in an effort to increase business for the Enzo Legacy division. In doing so, the President has asked the Chief Financial Officer, the Chief Development Officer, the Chief Marketing Officer, and you, the business consultant for input and ideas on how to increase profit margins If the company does nothing different for 2018, the President expects the following sales: Model Testarossa Mondial Scaglietti Sales Price $1,500,000 $975,000 $600,000 Units Sold 45 140 100 Total $67,500,000 $136,500,000 $60,000,000 Based upon historical data, 80% of sales revenue is collected in the year of the sale with 10% collected in the year following the sale, 10% of sales is the estimated bad debt amount. In following GAAP, Mario A makes this estimate at year end and records the expense in the year of sale. The net receivables balance on 12/31/2017 consists of the 10% uncollected balance of 2017 sales