14-3 Humboldt, Inc, sells fireworks. The company's marketing director developed the following cost of goods sold budget for April, May, June, and July. Humboldt had a beginning inventory balance of $1,800 on April 1 and a beginning balance in accounts payable of $7,400. The company desires to maintain an ending inventory balance equal to 10 percent of the next period's cost of goods sold. Humboidt makes all purchases on'account. The company pays 60 percent of accounts payable in the month of purchase and the remaining 40 percent in the month following purchase. Requifed a. Prepare an inventory purchases budget for April, May, and June. b. Determine the amount of ending inventory Humboldt will report on the end-of-quarter pro forma balance sheet. c. Prepare a schedule of cash payments for inventory for April, May, and June. d. Determine the balance in accounts payable Humboldt will report on the end-of-quarter pro forma balance sheet. Complete this question by entering your answers in the tabs below. Prepare an inventory purchases budget for April, May, and June. Complete this question by entering your answers in the tabs below. Determine the amount of ending inventory Humboldt will report on the end-of-quarter pro forma balance sheet. Complete this question by entering your answers in the tabs below. Prepare a schedule of cash payments for inventory for April, May, and June. Complete this question by entering your answers in the tabs below. Determine the balance in accounts payable Humboldt will report on the end-of-quarter pro forma balance sheet