16. A dividend is declared at the end of each quarter to be paid in the following quarter. The 2020 dividend payable should be paid in January 2021. For the 1st three quarters of 2021, they estimate and pay (the following quarter) S3500 each quarter. Dividends declared for the year should be 4% of NI. Required: Prepare a master budget for COBA Bath, Inc. for the the year of 2021, including the following: (each quarter should be shown separately and summarized when appropriate) 1. Sales budget 2. Production budget 3. Material usage budget 4. Material purchases budget 5. Direct labor budget 16. A dividend is declared at the end of each quarter to be paid in the following quarter. The 2020 dividend payable should be paid in January 2021. For the 1st three quarters of 2021, they estimate and pay (the following quarter) S3500 each quarter. Dividends declared for the year should be 4% of NI. Required: Prepare a master budget for COBA Bath, Inc. for the the year of 2021, including the following: (each quarter should be shown separately and summarized when appropriate) 1. Sales budget 2. Production budget 3. Material usage budget 4. Material purchases budget 5. Direct labor budget