Calculate1. monthly income statement 2019 from april to dec2. Calculate monthly balance sheet 2019 from april to dec3. Calculate monthly cash budget from april to dec .In continuation of below mentioned tables

Gordie's Hockey Supply Company - Monthly Proforma and Cash Budget 2019 sales are forecasted to be $52,500. Gordie's Hockey Supply Company Income Statement See Table 1 for the estimated percentage distribution of purchases and sales. For the Year Ending December 31, 2018 Total purchases for 2019 are forecasted to be $43,500. COGS for 2019 are forecasted to be 82 percent of 2019 forecasted sales. Sales 42,000 Operating expenses (excluding depreciation) will be 12 percent of 2019 forecasted sales and are Cost of goods sold 33,600 expected to be evenly distributed throughout the year. Depreciation expense on existing fixed Gross profit 3,400 assets will be $15 per month. Operating expenses 5.040 The company plans to spend $1936 on new long-term assets in August 2019. These new assets Depreciation 130 will be depreciated on a straight-line basis to a $400 salvage value over 8 years. Depreciation on Operating income 3.230 these new assets will be divided evenly per month and the first monthly depreciation on these Interest expense 520 new assets will occur in September. Seventy-five percent (75%) of the cost of the new fixed Earnings before taxes 2,710 assets will be financed by an increase in the long-term mortgage loan (taken out in August). Taxes 950 The firm's average tax rate is 32 percent. Net income 1,760 Twenty percent (20%) of all sales are cash sales (i.e., collected immediately) and eighty percent (80%) of all sales are credit sales. There is no bad debt (i.e., all credit sales are collected). The average collection period (ACP) was 45 days for all of 2018 and will be 45 days for all of 2019. November 2018 sales were $6,300 and December 2018 sales were $7,350. Assume sales Table 1 are evenly distributed throughout each month. Gordie's Hockey Supply Company The accounts payable days period was 15 days for all of 2018 and will be 15 days for all of 2019 Estimate Percentage Distribution of Purchases and Sales for 2019 December 2018 purchases were $3,400. Assume purchases are evenly distributed throughout each month. Month Purchases Sales Tax payments of $288 will be made in March, June, September, and December. Also, the $90 January 10 deferred tax balance on the 2018 Balance sheet will be paid in April. A long-term debt repayment February of $85 will be made in October. March The minimum cash balance is $125. April The company plans to sell $40 in stock (via an employee stock plan) every month. May The only change in the deferred tax account will be due to accrued taxes. June The company plans to pay a $200 dividend payment to shareholders in May 2019 and another July $200 dividend payment in November 2019. August The interest rate on the bank loan (i.e., on short term debt) is 7.5% annually and the interest rate September on long-term debt (i.e., the mortgage loan) is 8.5% annually. This interest rate is paid on the prior October month's total loans balance (short-term plus long-term). Thus, given that the Bank loan balance November on December 31, 2018 is $2,915 and the Mortgage loan balance on December 31, 2018 is $7,450, December 11 the interest paid in the month of January will be (.07/12)(2915) + (.09/12)(7450) = 72.88 = 73. Calculate onward data from april to december on below mentioned tables Gordie's Hockey Supply Company Gordie's Hockey Supply Company Proforma Monthly Income Statements - 2019 Proforma Monthly Cash Budget - 2019 14% 129% 2018 Jan Jan Feb Mar Feb Ma Sales 7,350 Cash Sales 1,470 .260 735 42,000 3,675 460 5,460 Cost of goods sold 33 600 6.027 5.166 3.014 Collections of Accts. Receivable 5.880 1 124 Proceeds from stock sales 40 40 Gross profit 8,400 1,323 662 Operating expenses 5.040 525 525 525 Addition to LT Bank loan 15 15 15 Total cash inflows 6,970 7,180 6 235 Depreciation 130 Operating income 3,230 783 594 122 520 71 56 53 Payment of Accounts payable 1,875 4.133 3,698 nterest expense 712 538 69 Payment of Operating expenses 525 525 525 Earnings before taxes 2,710 172 Payment of Interest 71 63 Taxes 950 228 22 288 Net income 1,760 484 366 47 Payment of taxes 250 Long term debt payment Dividends Long term asset purchase Addition to R.E 1,510 484 366 47 Payment of dividends Total cash outflows 4.471 4,713 4,563 Gordie's Hockey Supply Company Proforma Monthly Balance Sheets - 2019 Net cash flow 2.499 2 467 1.672 10% 9% 8% 75 125 2, 126 Dec Feb Mar Beginning cash balance 125 Net cash flow 2,499 2,467 1,672 Cash 75 2,126 3.798 8,400 8,820 7.980 5.460 Ending cash balance 2.574 2.592 3,798 Accounts receivable Inventory 3,280 1,603 352 819 Minimum cash balance 125 126 Current assets 11,755 10,548 10.458 10.077 Net fixed assets 8,245 8.230 8,215 8.200 Addition (subtraction) to loan (2,449) (2,467) (3,673) Total assets 20,000 18,778 18,673 18,277 Beginning loan balance 2,915 465 Bank loan 2.915 468 Addition (subtraction) to loan 2,449 (2.467) (3,673) Accounts payable 1,700 2,175 1,958 1,740 Sum (2 001) (3,673) Deferred taxes 90 318 Current liabilities 4,705 2,959 2,448 1,964 Ending Bank Loan Balance 466 Mortgage loan 7,450 7,450 7,450 7.450 Equity 7,845 8,369 8,775 8,862 Addition to min cash balance 2,001 3,673 Total liabilities & Equity 10,000 18,778 18,673 18,276 Ending Cash Balance 125 2.126 3,798 (0) Bank loan from B/S 466