2. rgeron Distributing Company sells one product that it purchases from its manufacturer at a price of $5.00 per unit. Bergeron Distributing Company has developed the following budget information for the 2nd quarter of 2017 based on $12 per unit selling price for its product: Month April May June Sales Purchases $209,200 $82,100 $245,200 100,600 $316,000 $135,500 Monthly Wages Advertising Depreciation Other Operating Expenses 32,000 $5,000 $6,500 5% of sales Bergeron Distributing Company purchases 100% of its merchandise on credit at various terms. The Company makes payments to suppliers: 25% in the month of purchase and 75% one month after purchase. The Company expected to report accounts payable of $75,600 at March 31, 2016. All cash expenses are paid as incurred except for income taxes. The Company expects to make an estimated tax payment of $30,000 in June 2017 . The company declared a quarterly cash dividend of $20,000 to its common stockholders during April 2017 that it will pay during May 2017