Based on the information below prepare a: (1) Sales Budget (2) Purchase Budget (3) Cash Budget for Jan thru April, 2022 (30 pts) Remember prepare thru Excel. Set up your template based on the information below and link as much information as possible. (30 pts)

ABC Company Balance Sheet, December 31, 2021

Cash $41,700

Accounts receivable 192,000

Inventory 55,000

Land 100,000

Plant and equipment $750,000

Less: accumulated depreciation 25,000 725,000

Total assets $1,113,700

Accounts payable to suppliers $55,000

Common Stock $200,000

Retained Earnings 858,700 1,058,700

Total liabilities and equity $1,113,700

Estimated sales of product Z

January 10,000

February 10,700

March 11,200

April 11,000

May 10,500

Sale price per unit $75

Cost of inventory per unit $40

Collections from customers Collected in month of sale 72%

Collected the following month 28%

Desired ending inventory (% of next month's unit sales) 20%

Desired Units Purchased (% of current months sales) 40%

Paid in the month of purchase 75%

Paid in the subsequent month 25%

Selling and administrative expenses (includes $25,000 depreciation) $175,000 fixed Variable Expense $ 15 per unit sold