Cash Budget For the Three Months Ending June 30 May April Beginning cash balance Advertising Commissions (4% of sales) Dividends paid available over (Interest) Earrings Unlimited Budgeted Balance Sheet As of June 30 4. Budgeted balance sheet: Assets Cash (part 2) Accounts receivable (look at lb) Inventory (# ofearrings . S4.50) Prepaid Insurance (March 31 balance minus the expense on the Income Statement) Property and equipment, net (March 31 balance plus what you purchased in May and June minus the depreciation on the Income Statement) Total assets purchases (look at ld) Accounts Dividends payable (will still be $18,750) Common stock (did not change from March 31) Retained earnings (see below) Total liabilities and stockholders' equity Retained carnings, April1 Add net income (part 3) p Less dividends declared Retained earnings, June 30