Cellmor Products is preparing its budget for January, February and March 2021, and has collected and assembled the 2 following information and assumptions for its income statement and cash flow budgets: 14 5 46 47 48 49 30 Budgeted Sales and Cost of Goods Sold 51 53 Unit Sales 54 Selling Price, per unit 55 Cost of Goods Sald, per unit Budgeted monthly operating expenses Salaries Expenses Over Fixed Expenses Depreciation Experise Variable Setting Expense January February March 3,500 3,000 4.200 3,200 $30.00 $30.00 $31.00 $32.00 17.00 17.00 17.00 17.00 $16.000 per mo $10,000 per month $2.048 per month 15% of the month's sales $ Cash collections of Sales Revenue: Accounts Receivable bance December 21, 2019) Percentage of Sales collected in month of sae Percentage of Sales collected in months following the se Cash payments on Cost of Goods Sold: Accounts Payable balance, December 31, 2019 Percentage of COGS paid for in morth incurred Percentage of COGS paid for in following month Cash payments on operating expenses Other cash flow info: Can dividends paid per month Equpreet purchase for cash) $70.000 (all of which is to be collected in January 45% 55% $45,000 (all of which is to be pad in January) 25% of COGS 75% of COGS Pad for (as applicable) in the months incurred $2,000 per reanth $12,000 in January $4.000 in February Equpnient purchase for cash Operating Line of Credit Mrimum endul mands cash balance desired Ne verest on bowed cash $15,000 4% Paid when principle is repaid Any amounts borrowed are borrowed at the beginning of the month where borrowing is needed Any bank loan amounts (and interest) repaid are repaid at the end of the month REQUIRED: In the areas provided, prepare Cellmor's budgeted schedules. Some of the year total amounts cells already have calculations. Please ensure you complete any schedule's "total" amounts as and where Marks are based on arriving at correctly calculated amounts. necessary. Cell referencing is, as always, encouraged. Cellmor Products Budgeted Income Statement (Partial) Sales Cost of Goods Sold Gross Margin Salaries Experise Other Fixed Expenses Depreciation Expense Variable Selling Expense Operating income provide line item descriptions Total Cash Collections provide line itens descriptions.. January 1st Quarter, 2021 February March Total Celmor Products Schedule of Budgeted Cash Collections January 1st Quarter, 2021 February Mach Tod Celimor Products Cash Payments for Cost of Goods Sold ANVARY 1st Quark 2321 February Marsh 50000 000000 Updates. Cellmor Products Cash Payments: Operating Expense (excluding any interpaments) Janowy Operating expenses (Mal in space provided as applicatie Total Cash Payments Cash balance, beginning Add Cash Collections Total cash avaiable Less Cash Payments Cost of Goods Sold Operating Expenses Others list in the space provided an applicable To Payments Excess (deficiency) Financing Borrowing Repayments Cash balance, widing Curser 2001 March Cellmor Products Cash Budget January 1st Quarter 2021 February March $16,000 Calculate the budgeted Accounts Receivable AND Accounts Payable balances as at the end of March 2021 hoces Receivi costs Payable 31.Mw-21