$ 70,00 accounts receivable plant and equipment, net of depreciation Total assets Liabilities and stockholders' Equity Accounts payable Comon stock Retained earnings Total liabilities and stockholdersequity Beech's managers have made the following additional assumptions and estimates Estimated sales for July August September, and October will be $230 000 $250 000 $240.000 and $260.000 respectively 2. All sales are on Credit and creates are collected Each month's credits are collected 45 in the month of sale and 55% in the month following the All of the accounts receivable June 30 will be collected in 3. Each month's ending inventory must e l 20% of the cost of nestones The cost of goods sold is 70% of sales. The company Days for 30 of erchandie Durchases in the month of the purchase and the man in the month following the purchase. All of the accounts payable June 30 will be paid in July 4 Monthly seling and administrative expenses are always $42.000. Each month $7000 of the total amount is depreciation expense and the remaining $35.000 relates to expenses that are paid in the month they are incurred 5. The company does not plan to borrow money or pay or declare dividends during the quarter ended September 30. The company does not plan to issue any common stock or repurchase its own stock during the quarter ended September 30. Required: 1. Prepare a schedule of expected cash collections for July August, and September Also compute total cash collections for the quarter ended September 30, 2- Prepare a merchandise purchases budget for July August and September. Also compute total merchandise purchases for the Quarter ended September 30. 2-6. Prepare a schedule of expected cash disbursements for merchandice purchases for July August, and September. Also compute total cash disbursements for merchandise purchases for the quarter ended September 30 3. Prepare an income statement for the quarter ended September 30 4. Prepare a balance sheet as of September 30 Complete this question by entering your answers in the tabs below Prepare a schedule of expected arter ended September 30, to form and September. Al compute hotel l ections for the