The management of Zigby Manufacturing prepared the following estimated balance sheet for March 2017:
ZIGBY MANUFACTURING
Estimated Balance Sheet
March 31, 2017
Assets
Cash $ 54,000
Accounts receivable 354,375
Raw materials inventory 100,495
Finished goods inventory 333,000
Total current assets 841,870
Equipment, gross 628,000
Accumulated depreciation (164,000 )
Equipment, net 464,000
Total assets $ 1,305,870
Liabilities