2 Which of the following statements is TRUE of the capital expenditures budget? O It is a part of the financial budget. O It must be completed after the budgeted income statement is prepared O It includes the sales budget. O It must be completed before the cash budget is prepared. 3 Yoshino, Inc., a merchandising company, has the following budgeted figures: Calculate the ending merchandise inventory for the month of March. JanFeb Mar April $56,900 S62,000 80,000 $92,000 Sales 60% of sales Cost of goods sold $15,000 + 20% of next Required Inventory on hand on Jan 1 ending inventory month's sales $30,000 Minimized View $33,400 $63,000 O $31,540 $48,000