1. Prepare the budgeted balance sheet for Instrument Medical Supply at April 30 . Show separate computations for cash, inventory, and owners' equity balances. 2. Prepare the combined cash budget for April. 3. Suppose Instrument Medical Supply has become aware of more efficient (and more expensive) equipment than it budgeted for purchase in April. What is the total amount of cash available for equipment purchases in April, before financing, if the minimum desired ending cash balance is $19,000 ? (For this requirement, disregard the $42,000 initially budgeted for equipment purchases) 4. Before granting a loan to Instrument Medical Supply, Metropolitan National Bank asks for a sensitivity analysis assuming that April sales are only $58,000 rather than the $87,000 originally budgeted. (While the cost of goods sold will change, assume that purchases, depreciation, and the other operating expenses will remain the same as in the earlier requirements.) a. Prepare a revised budgeted balance sheet for Instrument Modical Supply, showing separate computations for cash, inventory, and owners' equity balances. b. Suppose Instrument Medical Supply has a minimum desired cash balance of $19,000. Will the company need to borrow cash in Aprit? Data table a. March 31 equipment balance, $52,700; accumulated depreciation, $41,800. b. April capital expenditures of $42,000 budgeted for cash purchase of equipment. c. April depreciation expense, $400. d. Cost of goods sold, 55% of sales. e. Other April operating expenses, including income tax, total $13,200,35% of which will be paid in cash and the remainder accrued at April 30. f. March 31 owners' equity, $92,200. g. March 31 cash balance, $40,500. h. April budgeted sales, $87,000,65% of which is for cash. Of the remaining 35%, half will be collected in April and half in May. i. April cash collections on March sales, $29,000 j. April cash payments of March 31 liabilities incurred for March purchases of inventory, $17,800. k. March 31 inventory balance, $29,600. 1. April purchases of inventory, $10,300 for cash and $36,900 on credit. Half of the credit purchases will be paid in April and half in May. Calculate the inventory pasance Prepare the budgeted balance sheet for Instrument Medical Supply at April 30 expensive) equipment than it budgeted for purchase in April. Reyd thinghinets \begin{tabular}{|c|c|} \hline \multicolumn{2}{|c|}{ tivenury } \\ \hline Eegring fidens & \\ \hlineM & \\ \hline Natsanes & \\ \hline ines & \\ \hline Cint 4 piofin sud & \\ \hline & \\ \hline \end{tabular} Mant Calculate the owners' equity balance. (Round amounts to the nearest whole dollar) Prepare the budgeted balance sheet for Instrument Modical Supply at / pri 30 Instrument Medical Supply ny need to borrow cash in Apri? balance is ine cormparry than the minirnum balance of $19,000
