Use the following information to prepare a budgeted balance sheet

Use the following information to prepare a budgeted balance sheet for Luda Corporation at March 31. Show computations for the cash and stockholders' equity amounts.
a. March 31 inventory balance, $18,265
b. March payments for inventory, $4,600
c. March payments of accounts payable and accrued liabilities, $8,700
d. March 31 accounts payable balance, $1,700
e. February 28 furniture and fixtures balance, $34,600; accumulated depreciation balance, $29,860
f. February 28 stockholders' equity, $30,000
g. March depreciation expense, $400
h. Cost of goods sold, 40% of sales
i. Other March expenses, including income tax, total $9,000; paid in cash
j. February 28 cash balance, $11,600
k. March budgeted sales, $12,300
l. March 31 accounts receivable balance, one-fourth of March sales
m. March cash receipts, $14,700
Accounts Payable
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Accounts Receivable
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Balance Sheet
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