Answer all requirements

Omaha Office Supply's March 31, 2016, balance sheet follows: (Click the icon to view the balance sheet.) The budget committee of Omaha Office Supply has assembled the following data: (Click the icon to view the data.) Read the requirements. Requirement 1. Prepare Omaha's sales budget for April and May 2016. Round all amounts to the nearest dollar. Data table More info a. Sales in April are expected to be $200,000. Omaha 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. Cash receipts are 70% in the month of the sale and 30% in the month following the sale. b. Omaha maintains inventory of $15,000 plus 25% of the cost of goods sold budgeted for the following month. Cost of goods sold equal 50% of sales revenue. Purchases are paid 30% in the month of purchase and 70% in the month following the purchase. c. Monthly salaries amount to $7,000. Sales commissions equal 5% of sales for that month. Salaries and commissions are paid 70% in the month incurred and 30% in the following month. d. Other monthly expenses are as follows: - Rent: $2,200, paid as incurred - Depreciation: \$600 - Insurance: $300, expiration of prepaid amount - Income tax: $1,600, paid as incurred Requirements 1. Prepare Omaha's sales budget for April and May 2016. Round all amounts to the nearest dollar. 2. Prepare Omaha's inventory, purchases, and cost of goods sold budget for April and May. 3. Prepare Omaha's selling and administrative expense budget for April and May