Can I recieve help with this?

Can I recieve help with this?

Robert Williams, Marigold & Michael's controller, has received all the budgets prepared by the various operating units and is ready to compile the pro-forma financial statements for the first quarter. The company's balance sheet of December 31 is as follows: Accounts Receivable (net) Finished Goods Inventory Raw Materials Inventory Property. Plant & Equipment Accumulated Depreciation Total Accounts Payable Income Tax Payable Common Stock Retained Earning Total Liabilities & Owners Equity $32 300 22.500 98,900 49.280 300,000 175.000 $427,980 $18,000 26,400 100.000 283,580 $427 990 Selected Estimates Budgeted revenue Selling and administrative expense Interest Expense Cost of Goods Sold Accounts receivable Inet) Direct materials Finished goods Accounts payable Notes payable Quarter $1.780.400 425,700 370 50.300 1.389.630 174720 29.160 104.720 218,700 5.000 Additional Information Marigold 6 Michael plans to purchase and pay cash for a piece of land in February at a cost of $90,000 Marigold 6 Michael plans to purchase equipment in March at a cost of $30,000 Depreciation for manufacturing overhead $42.000 per quarter and for selling and administrative $30,000 per month The company expects a 30x income tax rate and all quarterly as we paid in the first month of the following quarter Prepare Marigold & Michael's pro forma income statement for the first quarter (Enter give amounts using the native sprending the numbers 45 or parenthesesex (457) Marigold& Hill Income Statement First Quarter Sales Revens $ 1780400 Cast of Goods Sold 1389630 L Gross Margin 390770 Selling & Administrative Expense 425700 Operating Income (Loss) -34930 interest Expense 370 Income Betore Taces 35300 Income Tax Experte $ Net Income /(Loss -35300 (b) Prepare Marigold & Michael's pro-forma balance sheet as of March 31. Marigold & Hill Balance Sheet March 31 Cash $ 122300 Accounts Receivable 22500 Raw Materials Inventory > 98900 Finished Goods Inventory 49280 330000 Property, Plant & Equipment -33000 Accumulated Depreciation $ Charles Wilson is one of Texas's premiere party planners. She purchases valety of supplies such as plastic tableware, stemware and decorations, throughout the year. Charles has prepared the following purchased for the coming year Budgeted purchases 1st Quarter $380.000 2nd Charter $440,000 3rd Quarter $455,000 4th arter $525.000 Historically, Charles has paid for 40% of her purchases in the quarter of purchase and in the quarter following purchase. On December 31 of this year Charles had a $250,000 accounts payable balance Prepare Charles's cash payments budget for the coming year. (Enter mess in front other fields onk Dorse enter) 1st Quarter 2nd Quarter 3rd Quarter A/P from last year $ 250000 S 1st quarter purchases 152000 229000 176000 264000 2nd quarter purchases 3rd quarter purchases 18.2000 4th quarter purchases Total $ 402000 04000 $