3 Made Copay what dumb of premi Eropa chocolates. The pur's balaa sheet as of April 30 is at below Modem Comp And 30 Bat SIN 100 beventory Buildings mad epopeat, get of depreciation Lisbulties and Stockholders' Equity Acom Retained ning Total liabdities and stockholders' equity 56500 40.750 20200 $315,750 567750 $15.300 180.000 56,200 $319,750 The company is in the process of preparing a bodget for May and has assembled the following dan Sales are bustgeted at $263,000 for May: Of these sales, $78,900 will be for cnk the remainder will be credit sales. One half of a month's credit sales me collected in the mouth the sales are made, and the remainder is collected in the following month. All of the April 30 accounts receivable will be collected in May Purchases of arventory are expected to total $193.000 during May. These purchases will all be on accost. Forty percent of all purchases are paid for in the mouth of parchae, the remainder are paid in the following month. All of the April 30 accounts payable to suppliers will be paid deing May The May 31 inventory balance is budgeted at 563,000 Selling and administrative expenses for May are budgeted at 573,200, exclusive of depreciation. These expenses will be paid in cash. Depreciation in budgeted at 54.650 for the month The note payable on the April 30 balance sheet will be paid daring May, with $300 in interest. (All of de interest relates to May) New refrigerating equipment costing $11,900 will be purchased for cash during May During May, the company will bomow $27,200 from its bank by giving a bow note payable to the bank for that amount. The new note will be due in one year. Required: Using the information provided, prepare the following