calculate balance sheet question is Below.

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21 11. Budgeted Balance Sheet Additional details: - Fine Office Company produces two products P100 and P200 - Sales price per P100 is - Sales price per P200 is - The value of P100 finished goods inventory at the end of 2022 is - At the end of each quarter, Fine Office Company requires ending inventory to be equal to - Each P100 unit uses Each P200 unit uses - Fine Office Company currently has sq. ft. of steel during the manufacturing process. The cost of steel for 2023 is estimated to be S8 per sq. ft. the end of each quarter, Fine Office Company wants to have 30,000sq. ft. of steel in the beginning inventory. At inventory. - Each product requires - Direct Labour costs \$ \begin{tabular}{|r|l|l} \hline 2 & machine hours and & 7 \\ \hline 19.7 & direct labour hrs to produce. \\ \hline per direct labour hour. & \end{tabular} - Fine Office Company allocates manufacturing overhead costs based on the estimated machine \begin{tabular}{l} - For each quarter, it is estimated that \\ will be credit sales. Of the credit sales, 80% pay in the quarter of the sale and 20% pay in the \\ \hline \end{tabular} following quarter. Credit sales from Q4 2022 were - Direct labour costs and manufacturing overhead costs are paid for in cash in the quarter they - Assume operating expenses occur evenly throughout the year and are all paid in cash. - For each quarter, \begin{tabular}{|r|} \hline 30% \\ \hline$1,500,000 \\ \hline \end{tabular} of material purchases are paid for in cash in the quarter of Q4 2022 were are paid in the followir Fine Office Company Additional details continued: - Fine Office Company will pay $60,000 in dividends in Q4 - Currently, the cash balance in the bank is $15,000. Fine Office Company wants to maintain a minimum cash balance of $10,000 in the bank for each quarter. - Budgeted sales volumes year 2024 Q1: Variable Cost: 48 Fine Office Company Additional details continued: - Fine Office Company will pay - Currently, the cash balance in the bank is $15,000. Fine Office Company wants to maintain a minimum cash balance of $10,000 in the bank for each quarter. - Budgeted sales volumes year 2024 Q1: P100 Fixed Costs per quarter: - Fine office Company will purchase a new machine on 1/1/2023 worth $500,000 and will make two equal payments. The first payment will be in Q1 and the second in Q4. Assume the machine was purchased at the beginning of the year. - Taxation is 25% on taxable income and paid at the end of Q4 each year (Ignore negative taxes). - Balance sheet information as at 31 st December 2022 is as follows; \begin{tabular}{|l|l|l|l|} \hline PPE & $100,000 & & $100,000 \\ \hline Common Stock & $580,000 & Accumulated Depreciation & $145,000 \\ \hline \end{tabular} - For Cost of goods sold (COGS): Add total costs of production + Beginning Finished goods - Ending Finished goods inventory. - Interest of 9,000 on loans is paid in total at the end of the year and is a fixed cost. 89 \begin{tabular}{|l|l|l|lll} Instructions & Sales Budget & Production Budget & Direct Labour ... & \\ \hline \end{tabular} \begin{tabular}{l|l|l|l|} \cline { 2 - 4 } 29 & \multicolumn{1}{c|}{ A } & \multicolumn{1}{c|}{ B } & C \\ \hline 30 & \multicolumn{2}{|c|}{ Fine Office Company } & \\ \hline 31 & \multicolumn{2}{|c|}{ Budgeted Retained Earnings Statement } \\ \hline 32 & for the year ended December 31st 2023 \\ 33 & Opening balance & & \\ 33 & Add: Net Income & & \\ 34 & & & \\ 35 & Less Dividends & & \\ 36 & Closing balance & & \\ 37 & & & \\ 38 & & & \\ 38 & & \end{tabular} 39 Recreated from information provided: \begin{tabular}{l|l} 40 \\ 41 & \end{tabular} \begin{tabular}{|l|l|l|l|} \hline \multicolumn{2}{|c|}{ Fine Office Company } \\ \hline \multicolumn{2}{|c|}{ Budgeted Balance Sheet } \\ \hline \multicolumn{2}{|c|}{ At December 31st. 2022 } \\ \hline \multicolumn{1}{|c|}{ Assets } & $ & \\ \hline & \multicolumn{1}{|c|}{$} \\ \hline & Current Assets: & & \\ \hline & Cash & & \\ \hline & Accounts receivable & & \\ \hline Finished goods inventory & & \\ \hline Raw materials inventory & & \\ \hline & Total Current Assets: & & \\ \hline & & & \\ \hline & Property, Plant \& equipment & & \\ \hline Less: Accumulated depreciation & & \\ \hline Total Property, Plant \& Equipment: & & \\ \hline Total assets: & & & \\ \hline & Liabilities and Shareholders Equity & & \\ \hline & Liabilities: & & \\ \hline & Accounts payable & & \\ \hline Shareholders Equity; & & \\ \hline Common Stock & & \\ \hline Retained Earnings & & \\ \hline & Total Shareholders Equity: & \\ \hline & Total Liabilities and Shareholders Equity & & \\ \hline & & & \\ \hline \end{tabular}