Beech Corporation is a merchandising company that is preparing a master budget for the third quarter of the calendar year. The companys balance sheet as of June 30th is shown below:

Required information [The following information applies to the questions displayed below.) Beech Corporation is a merchandising company that is preparing a master budget for the third quarter of the calendar year. The company's balance sheet as of June 30th is shown below: Beech Corporation Balance Sheet June 30 Assets Cash Accounts receivable Inventory Plant and equipment, net of depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total liabilities and stockholders' equity $ 90,000 136,000 62,000 210,000 $498,000 $ 71,100 327,000 99,900 $498,000 W Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Reg 1 Req 2A Req 2B Req 3 Req 4 Prepare a merchandise purchases budget for July, August, and September. Also compute total merchandise purchases for the quarter ended September 30. Merchandise Purchases Budget July August Budgeted cost of goods sold $ 126,000 $ 138,000 Add: Desired ending merchandise inventory 27,600 26,400 Total needs 153,600 164,400 Less: Beginning merchandise inventory 62,000 27,600 Required purchases $ 91,600 $ 136,800 September $ 132,000 28,800 160,800 26,400 $ 134,400 Quarter $ 396,000 82,800 478,800 116,000 $ 362,800