The management of Zigby Manufacturing prepared the following estimated balance sheet for March 2017:
ZIGBY MANUFACTURING
Estimated Balance Sheet
March 31, 2017
Assets
Cash $ 50,000
Accounts receivable 434,240
Raw materials inventory 84,210
Finished goods inventory 368,000
Total current assets 936,450
Equipment, gross 602,000
Accumulated depreciation (151,000 )
Equipment, net 451,000
Total assets $ 1,387,450
Liabilities