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Rossi Company has the following projected account balances for June, 20X9 Accounts payable $60,000 Sales $800,0 00 Accounts receivable $120,000 Capital Stock $420,000 Depreciation, factory $24,000 Retained Earnings ? Inventories (5/31 & 6/30) $180,000 Cash $56,000 Direct materials used $210,000 Equipment, net $260,000 Office salaries $92,000 Building, net $400,000 Insurance, factory $4,000 Utilities, factory $16,000 Plant wages $140,00 Selling expenses 50,000 Bonds Payable $160,000 Maintenance Factory $28,000 Prepare a budgeted income statement and budgeted balance sheet as of June 30, 20X9

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