Question - The information below was extracted from Jackson Company's various schedules, master budget and relevant accounts for March, 20XX:
Cash $14,000
Accounts Receivable $11,000
Inventory Beginning $30,000
Inventory Ending $31,000
Equipment, net $75,000
Building, net $150,000
Accounts Payable $18,000
Bonds Payable $90,000
Capital Stock $150,000
Retained Earnings ?
Sales $200,000
Raw Materials Used $56,000
Depreciation-factory equip $11,000
Office Salaries $34,000
Factory Labor $25,000
Factory Insurance $2,000
Factory Utilities $3,600
Sales Salaries $20,000
Factory maintenance $10,000
GS&A $18,000
(All materials purchased were used)
Please show Jackson Company's budgeted income statement for March 20XX. And please present Jackson Company's budgeted balance sheet for the month ending March 31, 20XX.