6 of 6 (6 complete Score: 0.29 of 5 pts HW Score: 76.47 P22-42A (similar to) Data Table Ruler Office Supply's March 31, 2018, balance sheet follows: Click the icon to view the balance sheet) Ruler Office Supply Balance Sheet March 31, 2018 Assets amounts to the newest dollar Current Assets Requirement 1. Prepare Ruler's sales budget for April and May 2018. Round Ruler Office Supply Sales Budget April and May, 2018 April Accounts Receivable Merchandise inventory $ 180,000 $ Total budgeted sales Requirement 2. Prepare Rier's inventory. Durchases and cost of goods sold budget for April and Mary Ruler Supply Company svetry Purchases, and cost of Goods Sold Bud April and Mary, 2018 Prepaidance Tot Current Assets Property Plant and Equpment Equment and Fixtures Loss Accumulated Depreciation Assos abilities Point Done Choose from any list or enter any number in the input fields and then click Check Answer. IVU U a. b. Sales in April are expected to be $160,000. Ruler forecasts that monthly sales will increase 2% over April sales in May. June's sales will increase by 4% over April sales. July sales will increase 20% over April sales. Ruler maintains inventory of $13,000 plus 25% of the cost of goods sold budgeted for the following month. Cost of goods sold equal 50% of sales revenue. Monthly salaries amount to $5,000. Sales commissions equal 5% of sales for that month. Other monthly expenses are as follows: Rent: $3,200 Depreciation: $600 Insurance: $300 Income tax: $2,300