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Dickson Company Has the Following Projected Account Balances for September

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Dickson Company has the following projected account balances for September 30 of the current year:  Accounts payable $20,000 Sales $400,000 Accounts receivable 50,000 Capital stock 200,000 Depreciation, factory 12,000 Retained earnings (beginning) 64,000 Inventories (8/31)90,000Maintenance,factory14,000 Inventories (9/30)90,000Cash28,000 Materials used 100,000 Equipment, net 120,000 Office salaries 40,000 Buildings, net 200,000 Insurance, factory 2,000 Utilities, factory 8,000 Factory wages 70,000 Selling expenses 30,000 Bonds payable 80,000\begin{array}{llr}\text { Accounts payable } & \$ 20,000 \text { Sales } & \$ 400,000 \\\text { Accounts receivable } & 50,000 \text { Capital stock } & 200,000 \\\text { Depreciation, factory } & 12,000 \text { Retained earnings (beginning) } & 64,000\\\text { Inventories }(8 / 31) & 90,000 \mathrm{Maintenance,} \mathrm{factory} & 14,000 \\\text { Inventories }(9 / 30) & 90,000 \mathrm{Cash} & 28,000 \\\text { Materials used } & 100,000 \text { Equipment, net } & 120,000 \\\text { Office salaries } & 40,000 \text { Buildings, net } & 200,000\\\text { Insurance, factory } & 2,000 \text { Utilities, factory } & 8,000 \\\text { Factory wages } & 70,000 \text { Selling expenses } & 30,000 \\\text { Bonds payable } & 80,000 &\end{array} Required: A. Prepare a budgeted income statement for the month ended September 30 .
B. Prepare a budgeted bal ance sheet as of September 30 .

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