1. need schedule if expected cash

2.inventory purchase budget dir April, May june.

3. scheduel of cash disbursements

4. cash budget

Garden Sales, Inc. sells garden supplies. Management is planning its cash needs for the second quarter. The following information has been assembled to assist in preparing a cash budget for the quarter: a Budgeted monthly income statements for April to July are as follows: April $550,000 378,000 172,000 May 5790,000 546,000 244,000 June 5470,000 329,000 141,000 July $390,000 273,000 117,000 Sales Cost of goods sold Gross margin Less: Operating expenses: Selling expense Administrative expense" Total operating expenses Net income 77,200 43,000 120,200 $ 51,500 110,000 47.789 157,700 $ 86,300 56,600 39,800 96,460 $ 44,600 42,800 37,400 85,200 5 31,800 es *Includes $15,000 in depreciation each month. b. Sales are 20% for cash and 80% on account Sales on account are collected over a three-month period in the following ratio: 10% collected in the month of sale, 70% collected in the first month following the month of sale, and the remaining 20% collected in the second month following the month of sale. February's sales totalled $230,000, and March's sales totalled $310,000 d. Inventory purchases are paid for within 15 days. Therefore, 50% of a month's inventory purchases are paid for in the month of purchase. The remaining 50% are paid in the following month. Accounts payable at March 31 for inventory purchases during March total $109.200 e At the end of each month, inventory must be on hand equal to 20% of the cost of the merchandise to be sold in the following month. The merchandise inventory at March 31 is $75,600 1. Dividends of $45100 will be declared and paid in April 9 Equipment costing S16,300 will be purchased for cash in May. h The cash balance at March 31 is $48.600 the company must maintain a cash balance of at least 536,000 at all times. The company can borrow from its bank as needed to bolster the cash account Borrowings and repayments must be in multiples of $500 Interest is due only when principal is repaid and is calculated on the amount of repayment for the duration of the time modey was borrowed. All borrowings take place at the beginning of a month and all repayments are made at the end of a month. The annual interest rate is 12% Compute Interest on whole months (1/122/12, and so forth)