Carmen's Dress Delivery operates a mail-order business that sells clothes designed for frequent travelers. It had sales of $590,000 in December. Because Carmen's Dress Delivery is in the mail-order business, all sales are made on account. The company expects a 22 percent drop in sales for January. The balance in the Accounts Receivable account on December 31 was $97,000 and is budgeted to be $72,000 as of January 31. Required a. Determine the amount of cash Carmen's Dress Delivery expects to collect from accounts receivable during January. Expected cash collection Munoz Company sells lamps and other lighting fixtures. The purchasing department manager prepared the following inventory purchases budget. Munoz's policy is to maintain an ending inventory balance equal to 15 percent of the following month's cost of goods sold. April's budgeted cost of goods sold is $81,000. Required a. Complete the inventory purchases budget by filling in the missing amounts. b. Determine the amount of cost of goods sold the company will report on its first quarter pro forma income statement. c. Determine the amount of ending inventory the company will report on its pro forma balance sheet at the end of the first quarter. Complete this question by entering your answers in the tabs below. Req A Reg B and C Complete the inventory purchases budget by filling in the missing amounts. February $ 63,000 March $ 69,000 Inventory Purchases Budget January Budgeted cost of goods sold $ 59,000 Plus: Desired ending inventory 9,450 Inventory needed 68,450 Less: Beginning inventory 8,850 Required purchases (on account) $ 59,600 ReqA Req B and C > Munoz Company sells lamps and other lighting fixtures. The purchasing department manager prepared the following inventory purchases budget. Munoz's policy is to maintain an ending inventory balance equal to 15 percent of the following month's cost of goods sold. April's budgeted cost of goods sold is $81,000. Required a. Complete the inventory purchases budget by filling in the missing amounts. b. Determine the amount of cost of goods sold the company will report on its first quarter pro forma income statement. c. Determine the amount of ending inventory the company will report on its pro forma balance sheet at the end of the first quarter. Complete this question by entering your answers in the tabs below. Req A Req B and C Determine the amount of cost of goods sold the company will report on its first quarter pro forma income statement. Determine the amount of ending inventory the company will report on its pro forma balance sheet at the end of the first quarter. b. Cost of goods sold C. Ending inventory