Alliance Printing of Baltimore has applied for a loan. Bank of America has requested a budgeted balance sheet at April 30, 2012, and a budgeted statement of cash flows for April. The March 31, 2012, budgeted balance sheet follows:

As Alliance Printing€™s controller, you have assembled the following information:
a. April dividends of $8,000 were declared and paid.
b. April capital expenditures of $16,700, budgeted for cash purchase of equipment.
c. April depreciation expense, $400.
d. Cost of goods sold, 30% of sales.
e. April operating expenses, including salaries, total $35,000, 40% of which will be paid in cash and the remainder will be paid next month.
f. Additional April operating expenses also include miscellaneous expenses of 5% of sales, all paid in April.
g. April budgeted sales, $85,000, 60% is collected in April and 40% in May.
h. April cash payments of March 31 liabilities incurred for March purchases of inventory, $7,800.
i. April purchases of inventory, $11,200 for cash and $37,300 on credit. Half the credit purchases will be paid in April and half in May.
Requirements
1. Prepare the sales budget for April.
2. Prepare the operating expenses budget for April.
3. Prepare the budgeted income statement for April.
4. Prepare the budgeted cash collections from customers for April.
5. Prepare the budgeted cash payments for operating expenses for April.
6. Prepare the cash budget for April.
7. Prepare the budgeted balance sheet for Alliance Printing at April 30, 2012.
8. Prepare the budgeted statement of cash flows for April.
As Alliance Printing€™s controller, you have assembled the followinginformation:

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ALLIANCE PRINTING Budgeted Balance Sheet March 31, 2012 Liabilities Assets Current liabilities: Current assets: $ 7,800 $ 7,800 $ 51,100 14,900 Cash Accounts payable Accounts receivable Total liabilities Inventory 12,100 $ 78,100 Stockholders' Equity Total current assets Plant assets: Common stock 36,000 80,800 Retained carnings Equipment and fixtures Less: Accumulated depreciation 102,800 Total stockholders' equity $138,800 12,300 $ 68,500 Total plant assets Total assets $146,600 Total liabilities and stockholders' equity $146,600