Box Printing of Dartmouth has applied for a loan. Scotiabank has requested a budgeted balance sheet as of April 30 and a combined cash budget for April. As Box Printing's controller, you have assembled the following information: @ (Click the icon to View the information.) R_equirements Requirement 1. Prepare the budgeted balance sheet for Box Printing at April 30. Show separate computations for cash, inventory, and owners' equity balances. Begin by calculating the cash balance. Cash Beginning balance Cash inows: Cash sales Collections Cash outflows: Payment of March liabilities Cash purchases Payments for April (credit) purchases Purchase of equipment Operating expenses Endino balance Get more help A Data table . March 31 equipment balance, $52,800; accumulated depreciation, $41,400 . April capital expenditures of $42,900 budgeted for cash purchase of equipment April depreciation expense, $300 Cost of goods sold, 40% of sales Other April operating expenses, including income tax, total $13,600, 25% of which will be paid in cash and the remainder accrued at April 30 March 31 owners' equity, $93,400 . March 31 cash balance, $40,500 . April budgeted sales, $84,000, 65% of which is for cash. Of the remaining 35%, half will be collected in April and half in May April cash collections on March sales, $29,100 April cash payments of March 31 liabilities incurred for March purchases of inventory, $17,500 . March 31 inventory balance, $29,900 April purchases of inventory, $10,000 for cash and $36,400 on credit. Half of the credit purchases will be paid in April and half in May Requirements 1. PP Prepare the budgeted balance sheet for Box Printing at April 30. Show separate computations for cash, inventory, and owners' equity balances. Prepare the combined cash budget for April. Suppose Box Printing 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 nancing, if the minimum desired ending cash balance is $17,000? (For this requirement, disregard the $42,900 initially budgeted for equipment purchases.) Before granting a loan to Box Printing, Scotiabank asks for a sensitivity analysis assuming that April sales are only $56,000 rather than the $84,000 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.) 3. Prepare a revised budgeted balance sheet for Box Printing, showing separate computations for cash, inventory, and owners' equity balances. b. Suppose Box Printing has a minimum desired cash balance of$18,000. Will the company need to borrow cash in April? c. In this sensitivity analysis, sales declined by 33 1/3% ($28,000 I $84,000). Is the decline in expenses and income more or less than 33 \"3%? Explain