assembled the following information: (Click the icon to view the information.) Data table a. March 31 equipment balance, $52,500; accumulated depreciation, $41,100. b. April capital expenditures of $42,000 budgeted for cash purchase of equipment. c. April depreciation expense, $600. d. Cost of goods sold, 45% of sales. e. Other April operating expenses, including income tax, total $13,800,30% of which will be paid in cash and the remainder accrued at April 30. f. March 31 owners' equity, $94,200. g. March 31 cash balance, $40,900. h. April budgeted sales, $87,000,70% of which is for cash. Of the remaining 30%, half will be collected in April and half in May. i. April cash collections on March sales, $29,300. j. April cash payments of March 31 liabilities incurred for March purchases of inventory, \$17,200. k. March 31 inventory balance, $29,800. I. April purchases of inventory, $10,700 for cash and $36,300 on credit. Half of the credit purchases will be paid in April and half in May. quity balances. Begin by calculating the cash balance. Calculate the owners' equity balance. Prepare the budgeted balance sheet for Note Medical Supply at April 30. Note mealcal supply Budgeted Balance Sheet April 30 Assets Current assets: Cash Accounts receivable Inventory Total current assets Plant assets: Equipment Accumulated depreciation Total assets Liabilities Current liabilities: Accounts payable Owners' equity Total liabilities and owners' equity Requirement 2. Prepare the combined cash budget for April. Note Medical Supply Combined Cash Budget For the Month Ended April 30 Beginning cash balance, April 1 Plus: Cash collections from customers Total cash available Less cash payments: Purchases Operating expenses Acquisition of equipment Ending cash balance, April 30 $(46,050) (4,140) Requirement 3. Suppose Note Medical Supply has become aware of more efficient (and more expensive) equipment than it budgeted for purch quipment purchases in April, before financing, if the minimum desired ending cash balance is $19,000 ? (For this requirement, disregard the $4 The amount of cash available for equipment purchases in April, before financing, if the minimum desired ending cash balance is $19,000 (and disregarding the $42,000 initially budgeted for equipment purchases) is Requirements 1. Prepare the budgeted balance sheet for Note Medical Supply at April 30. Show separate computations for cash, inventory, and owners' equity balances. 2. Prepare the combined cash budget for April. 3. Suppose Note Medical Supply has become aware of more efficient (and more expensive) equipment than it budgeted for purchase in April. What is the total amount of cash available for equipment purchases in April, before financing, if the minimum desired ending cash balance is $19,000 ? (For this requirement, disregard the $42,000 initially budgeted for equipment purchases.) 4. Before granting a loan to Note Medical Supply, First National Bank asks for a sensitivity analysis assuming that April sales are only $58,000 rather than the $87,000 originally budgeted. (While the cost of goods sold will change, assume that purchases, depreciation, and the other operating expenses will remain the same as in the earlier requirements.) a. Prepare a revised budgeted balance sheet for Note Medical Supply, showing separate computations for cash, inventory, and owners' equity balances. b. Suppose Note Medical Supply has a minimum desired cash balance of $15,000. Will the company need to borrow cash in April? Requirement 1. Show separate computations for cash, inventory, and owners' equity balances. Begin by calculating the cash balance. Calculate the inventory balance. assembled the following information: (Click the icon to view the information.) Data table a. March 31 equipment balance, $52,500; accumulated depreciation, $41,100. b. April capital expenditures of $42,000 budgeted for cash purchase of equipment. c. April depreciation expense, $600. d. Cost of goods sold, 45% of sales. e. Other April operating expenses, including income tax, total $13,800,30% of which will be paid in cash and the remainder accrued at April 30. f. March 31 owners' equity, $94,200. g. March 31 cash balance, $40,900. h. April budgeted sales, $87,000,70% of which is for cash. Of the remaining 30%, half will be collected in April and half in May. i. April cash collections on March sales, $29,300. j. April cash payments of March 31 liabilities incurred for March purchases of inventory, \$17,200. k. March 31 inventory balance, $29,800. I. April purchases of inventory, $10,700 for cash and $36,300 on credit. Half of the credit purchases will be paid in April and half in May. quity balances. Begin by calculating the cash balance. Calculate the owners' equity balance. Prepare the budgeted balance sheet for Note Medical Supply at April 30. Note mealcal supply Budgeted Balance Sheet April 30 Assets Current assets: Cash Accounts receivable Inventory Total current assets Plant assets: Equipment Accumulated depreciation Total assets Liabilities Current liabilities: Accounts payable Owners' equity Total liabilities and owners' equity Requirement 2. Prepare the combined cash budget for April. Note Medical Supply Combined Cash Budget For the Month Ended April 30 Beginning cash balance, April 1 Plus: Cash collections from customers Total cash available Less cash payments: Purchases Operating expenses Acquisition of equipment Ending cash balance, April 30 $(46,050) (4,140) Requirement 3. Suppose Note Medical Supply has become aware of more efficient (and more expensive) equipment than it budgeted for purch quipment purchases in April, before financing, if the minimum desired ending cash balance is $19,000 ? (For this requirement, disregard the $4 The amount of cash available for equipment purchases in April, before financing, if the minimum desired ending cash balance is $19,000 (and disregarding the $42,000 initially budgeted for equipment purchases) is Requirements 1. Prepare the budgeted balance sheet for Note Medical Supply at April 30. Show separate computations for cash, inventory, and owners' equity balances. 2. Prepare the combined cash budget for April. 3. Suppose Note Medical Supply has become aware of more efficient (and more expensive) equipment than it budgeted for purchase in April. What is the total amount of cash available for equipment purchases in April, before financing, if the minimum desired ending cash balance is $19,000 ? (For this requirement, disregard the $42,000 initially budgeted for equipment purchases.) 4. Before granting a loan to Note Medical Supply, First National Bank asks for a sensitivity analysis assuming that April sales are only $58,000 rather than the $87,000 originally budgeted. (While the cost of goods sold will change, assume that purchases, depreciation, and the other operating expenses will remain the same as in the earlier requirements.) a. Prepare a revised budgeted balance sheet for Note Medical Supply, showing separate computations for cash, inventory, and owners' equity balances. b. Suppose Note Medical Supply has a minimum desired cash balance of $15,000. Will the company need to borrow cash in April? Requirement 1. Show separate computations for cash, inventory, and owners' equity balances. Begin by calculating the cash balance. Calculate the inventory balance