Can someone help show the calculations of how to calculate these?

1. Cost of goods sold will be 60% of sales. Company policy is to budget an ending inventory balance equal to 25% of the next months projected cost of goods sold. Assume Chang expects April cost of goods sold to be $314,000. Prepare an inventory purchases budget.

2. All inventory purchases are on account. The company pays 70% of accounts payable in the month of purchase. It pays the remaining 30% in the following month. Prepare a schedule of expected cash payments for inventory purchases.

3. Use the information developed in requirements d and e to determine the amount of cost of goods sold on the first quarter pro forma income statement and the amounts of ending inventory and accounts payable on the March 31 pro forma balance sheet.

Inventory Purchases Budget, Cash Payments Inventory

Cost of Goods Sold Percentage	60% of Sales
Inventory Purchases Budget
				Pro Forma
	Jan	Feb	Mar	Stmt. Data
PROJECTED PURCHASES
Budgeted Cost of Goods Sold	240,000			(a)
Plus Desired Ending Inventory	66,000			(b)
Total Inventory Needed	306,000
Less Beginning Inventory	0
Required Inventory Purchases	306,000			(c)
Schedule OF Cash Payments for Inventory Purchases
70% of Current Purchases	214,200
30% of Prior Month's Purchases	0
Total Budgeted Inv. Payments	214,200
(a) Cost of goods sold on first quarter pro forma income statement (sum of monthly amounts). (b) Inventory balance on March 31 pro forma balance sheet. (c) Accounts payable balance on March 31 pro forma balance sheet ($296,400 * .3).