4. A schedule of budgeted cash disbursements for purchases, by month and in total.

5. A cash budget. Show the cash budget by month and in total.

6. A budgeted income statement for the three-month period ending June 30. Use the contribution approach

.7. A budgeted balance sheet as of June 30.

The company desires a minimum ending cash balance each month of $10,000. The ties are sold to retailers for $8 each. Recent and forecased sales in units are as follows: January (actual) February (actual) March (actual) April May 20,000 24,000 28,000 35,000 45,000 June 60,000 July 40,000 August 36,000 September 32,000 The large buildup in sales before and during June is due to Father's Day. Ending inventories are supposed to equal 90% of the next month's sales in units. The ties cost the company $5 each to purchase. Altizer Sales Company pays for the purchases as follows: 50% in the month of purchase and 50% in the month following purchase. All sales to customers are on credit, with no discount, and payable within 15 days. The company has found, however, that only 25% of a month's sales are collected by month-end. An additional 50% is collected in the month following, and the remaining 25% is collected in the second month following sale. The company's monthly operating expenses are given below: Variable: Sales commissions $1 per tie Fixed: Wages and salaries $22,000 Utilities 14,000 Insurance expired 1,200 Depreciation 1,500 Miscellaneous 3,000 All operating expenses are paid during the month, in cash, with the exception of depreciation and insurance expired. Land will be purchased during May for $25,000 cash. The company declares dividends of $12,000 each quarter, payable in the first month of the following quarter. The company's balance sheet at March 31 is given below: Assets Cash $14,000 Accounts receivable ($48,000 February sales; $168,000 March sales) 216,000 Inventory (31,500 units) 157,500 Prepaid insurance 14,400 Fixed assets (PPE), net of depreciation 172,700 Total assets $574,600 Liabilities and Stockholders' Equity Accounts payable, purchases Dividends payable Capital stock, no par Retained earnings Total liabilities and stockholders' equity $85,750 12,000 300,000 176,850 $574,600 The company can borrow money from its bank at 12% annual interest. All borrowing must be done at the beginning of a month, and repayments must be made at the end of a month. Repayments of principal must be in round $1,000 amounts. Borrowings (and payments of interest) can be in any amount. Interest is computed and paid at the end of each quarter on all loans outstanding during the quarter. Round all interest payments to the nearest whole dollar. Compute interest on whole months (1/12, 2/12, and so forth). The company wishes to use any excess cash to pay loans off as rapidly as possible