Check my work 3 Gibson, Inc. sells fireworks. The company's marketing director developed the following cost of goods sold budget for April, May, June, and July. 16.66 April May June July points Budgeted cost of goods sold $74, 000 $84, 000 $94, 000 $100, 000 Skipped Gibson had a beginning inventory balance of $3,200 on April 1 and a beginning balance in accounts payable of $14,200. The company desires to maintain an ending inventory balance equal to 10 percent of the next period's cost of goods sold. Gibson makes all eBook purchases on account. The company pays 60 percent of accounts payable in the month of purchase and the remaining 40 percent in the month following purchase. Ask Required References a. Prepare an inventory purchases budget for April, May, and June. b. Determine the amount of ending inventory Gibson will report on the end-of-quarter pro forma balance sheet. c. Prepare a schedule of cash payments for inventory for April, May, and June. d. Determine the balance in accounts payable Gibson will report on the end-of-quarter pro forma balance sheet. Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D Prepare an inventory purchases budget for April, May, and June. Inventory Purchases Budget April May June