The following information is available for Zetrov Company. The cash budget for March shows an ending bank loan of $19,000 and an ending cash balance of $59,700. The sales budget for March indicates sales of $138,000. Accounts receivable are expected to be 70% of the current-month sales. The merchandise purchases budget indicates that $90,800 in merchandise will be purchased on account in March. Purchases on account are paid 100% in the month following the purchase. Ending inventory for March is predicted to be 780 units at a cost of $35 each. The budgeted income statement for March shows net income of $49,800. Depreciation expense of $2,800 and $27,800 in income tax expense were used in computing net income for March. Accrued taxes will be paid in April. The balance sheet for February shows equipment of $82,200 with accumulated depreciation of $31,800, common stock of $34,000, and ending retained earnings of $9,800. There are no changes budgeted in the equipment or common stock accounts.
Prepare a budgeted balance sheet for March.