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PROBLEMS Group A Comprehensive budgeting problem (Learning Objectives 2 & 3) Martin Manufacturing is preparing its master budget for the first quarter of the upcomin P9-57A ng year. The following data pertain to Martin Manufacturing’s operations: Current Assets as of December 31 (prior year): $ 4,500 $47,000 $ 15,700 $120,000 $ 42,400 $124,000 $ 23,100 Cash Inventory.. Property, plant, and equipment, net. Accounts payable .. Capital stock a. Actual sales in December were $70,000. Selling price per unit is projected to remain stable at $10 per unit throughout the budget period. Sales for the first five months of the upcoming year are budgeted to be as follows: January. February March April $ 80,000 $ 92,000 $99,000 $97,000 $ 85,000 b. Sales are 30% cash and 70% credit. All credit sales are collected in the month follow- ing the sale.