Acct434 Advanced Cost Management - (TCO 2) Rossi Company has the following projected account balance

Acct343 Advanced Cost Management (TCO 2) Rossi Company has the following projected account balances for June 30, 20X9: Accounts payable 60,000 Sales 800,000 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 Buildings, net 400,000 Insurance, factory 4,000 Utilities, factory 16,000 Plant wages 140,000 Selling expenses 50,000 Bonds payable 160,000 Maintenance, factory 28,000 Prepare a budgeted income statement AND a budgeted balance sheet as of June 30, 20X9. (Points: 25)
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