coer chains has prompted the owners to the to think sh flow, and financial Sweet 16 is wory years, recent new chired you to preparehe following information about the basical so do so, they have except for Q4 when it sells 60,000 do Alls 60.000 donuts. The es add toppings and hele donut?). Sweet 16 typically bulk and have thirty days fiscal quarter of sale and the Sweet 16 Donut Shop 1 JUL Sweet 16 is widely known for their sixteen vallen business for many years, recent new competition from larger chains has par seriously about budgeting. They have hired you to prepare their 20X2 operating statement budgets. To help you do so, they have provided the following information Sweet 16 sells 45.000 donuts per fiscal quarter, except for 04 when it selle donuts amive each morning from a local baking distributor. Sweet 16's employees ada the donuts. No donuts are held overnight (after all, who wants a day-old donut collects cash for each sale. However, some local corporations order donuts in bull top Management estimates that 90 percent of sales are collected in the fiscal remaining 10 percent is collected in the following fiscal quarter. The company pays its employees a total of $2,000 per quarter, plus 5 cents per dom sell for 50 cents each and the ingredients cost 20 cents each. In addition, Sweet 16 incute operating costs each month (that is, rent, insurance, and advertising) of which $300 i non-cash expense). Sweet 16 pays its variable costs in the month incurred. It pays 80 del costs in the quarter incurred and the remaining amounts in the following quarter, exe are paid 100 percent in the quarter incurred. In addition, supplies inventory (napkins, boxes, and the like) cost 12 percent of quarterly 16 would like to hold $2,000 of supplies at the end of each quarter of 20X2. Supplies invento end 20X1 totaled $1,600. Supplies inventory is paid for in the quarter the supplies are received The balance sheet from the end of the prior year is presented below. per donut sold. The donuts 16 incurs $1,000 of fixed $300 is depreciation ( It pays 80 percent of its fixed mounts in the following quarter, except for wages whic sercent of quarterly sales. Sweet of 20X2. Supplies inventory at year Sweet 16 Donut Shop Balance Sheet December 31, 20X1 Assets Cash Accounts Receivable Supplies Inventory Equipment (net of $10,000 depreciation) Total Assets Liabilities and Owners' Equity Accounts Payable Common Stock Retained Earnings Total Liabilities and Owners' Equity $100,000 1,000 1,600 47.000 $149,600 $ 1.100 80,000 68,500 $149.600 Required Based on these data, prepare operating cash flow, and financial statement budgets for Shop for 20X2. Compose a short paragraph to the owner, Art Vanderlei, about the nature any insights that you can draw from the results. udgets for Sweet 16 Do he nature of your work coer chains has prompted the owners to the to think sh flow, and financial Sweet 16 is wory years, recent new chired you to preparehe following information about the basical so do so, they have except for Q4 when it sells 60,000 do Alls 60.000 donuts. The es add toppings and hele donut?). Sweet 16 typically bulk and have thirty days fiscal quarter of sale and the Sweet 16 Donut Shop 1 JUL Sweet 16 is widely known for their sixteen vallen business for many years, recent new competition from larger chains has par seriously about budgeting. They have hired you to prepare their 20X2 operating statement budgets. To help you do so, they have provided the following information Sweet 16 sells 45.000 donuts per fiscal quarter, except for 04 when it selle donuts amive each morning from a local baking distributor. Sweet 16's employees ada the donuts. No donuts are held overnight (after all, who wants a day-old donut collects cash for each sale. However, some local corporations order donuts in bull top Management estimates that 90 percent of sales are collected in the fiscal remaining 10 percent is collected in the following fiscal quarter. The company pays its employees a total of $2,000 per quarter, plus 5 cents per dom sell for 50 cents each and the ingredients cost 20 cents each. In addition, Sweet 16 incute operating costs each month (that is, rent, insurance, and advertising) of which $300 i non-cash expense). Sweet 16 pays its variable costs in the month incurred. It pays 80 del costs in the quarter incurred and the remaining amounts in the following quarter, exe are paid 100 percent in the quarter incurred. In addition, supplies inventory (napkins, boxes, and the like) cost 12 percent of quarterly 16 would like to hold $2,000 of supplies at the end of each quarter of 20X2. Supplies invento end 20X1 totaled $1,600. Supplies inventory is paid for in the quarter the supplies are received The balance sheet from the end of the prior year is presented below. per donut sold. The donuts 16 incurs $1,000 of fixed $300 is depreciation ( It pays 80 percent of its fixed mounts in the following quarter, except for wages whic sercent of quarterly sales. Sweet of 20X2. Supplies inventory at year Sweet 16 Donut Shop Balance Sheet December 31, 20X1 Assets Cash Accounts Receivable Supplies Inventory Equipment (net of $10,000 depreciation) Total Assets Liabilities and Owners' Equity Accounts Payable Common Stock Retained Earnings Total Liabilities and Owners' Equity $100,000 1,000 1,600 47.000 $149,600 $ 1.100 80,000 68,500 $149.600 Required Based on these data, prepare operating cash flow, and financial statement budgets for Shop for 20X2. Compose a short paragraph to the owner, Art Vanderlei, about the nature any insights that you can draw from the results. udgets for Sweet 16 Do he nature of your work