Can you please help?

Sharpe Company has the following post-closing trial balance on December 31, 2016: (Click the icon to view the post-dosing trial balance The company's accounting department has gathered the following budgeting information for the first quarter of 2017 (Click the icon to view the budgeting information.) Additional information a. Direct materials purchases are paid 50% in the quarter purchased and 50% in the next quarter Direct labor, manufacturing overhead, seling and administrative costs, and income tax expense are paid in the quarter incurred Read the requirements Data Table 0 Duta Table 3 305,500 39,000 10,500 Requirements 2,100 Credit 500 1,200 71,800 Budgeted total sales, all on account Budgeted direct materials to be purchased and used Budgeted direct labor cost Budgeted manufacturing overhead cost Vartable manufacturing overhead Depreciation Insurance and property taxes Budgeted cost of goods sold Budgeted selling and administrative expenses Salaries expense Rent expense Insurance expense rice pense Depreciation expense Supplies expense Budgeted cash receipts from customers Budgeted Income tax expense Budgeted purchase and payment for capital expenditures (additional equipment) Sharpe Company Post-Cloning Trial Balance December 31, 2016 Account Debit Cash $ 35,000 Accounts Receivable 21,600 Raw Materials inventory 11,000 Finished Goods Inventory 25,700 Equipment 115,000 Accumulated Depreciation $ Accounts Payable Common Stock Retained Earnings Totals 206,300 1. Prepare Sharpe Company's budgeted income statement for the first quarter of 2017 2. Prepare Sharpe Company's budgeted statement of cash flows for the first quarter of 2017 3. Prepare Sharpe Company's budgeted balance sheet as of March 31, 2017 Hint. Use the budgeted statement of cash flows prepared in Requirement 2 to determine the Cash balance pense 20,000 16.500 Print Done 7.500 3,000 1.400 100 9,165 265,000 44,000 34,000 60,000 111.800 208,300 Print Done Print Done