Could you please provided me with the following answers using the tables below

b. Use the cash budget worked out in Part(a) and the following additional information to prepare a forecast income statement for the first half of 2016 for the XYZ store(Note that the store maintains a safety stock of inventory)

Inventory at 12/31/16 was $180,000

Depreciation is taken on a straight-line basis on $240,0000 of assets with an average remaining life of 10 years and no salvage value.

The tax rate is 34 %

c) Given the following information and that contained in Parts(a) and (b), construct a forecast balance sheet as of June 30, 2017 for the XYZ Store

XYZ Store balance sheet at December 31,2016

ASSETS LIABILITIES AND EQUITY

CASH	$1000,000	Account Payable	$1000,0000
Account receivable	427,500	Bonds	500,000
Inventory	180,000	Common stock and retained earnings	347,5000
Fixed assets,net	$947,500		$947,500

Cash Budget Beginning Cash Sources of Cash Cash Sales Accounts Receivables Collected Jan-17 Feb-17 Mar-17 Apr-17 May-17 Jun-17 100,000 117,355 158,155158,355 102,685 133,505 4200052500 262730 268320 39200 295625 350004200047600 57355 240800 245100 Total Cash Available 392,355400,155 450,855 463,085423,505 468,330 Uses of Cash Payments for Purchases Wages and Salaries Rent Interest Tax Pre-paymnet Capital Investment 228000 190000 228000 400004500050000 7000 7500 285000 52000 7000 7500 258400 228000 65000 55000 7000 7000 7000 7000 50000 80000 275000 242000 292500 380400 290000431 Borrowings 20,000.00 70,000.00 Closing Balance 117,355158,155 158,355102,685 133,505 106,830 Cash Budget Beginning Cash Sources of Cash Cash Sales Accounts Receivables Collected Jan-17 Feb-17 Mar-17 Apr-17 May-17 Jun-17 100,000 117,355 158,155158,355 102,685 133,505 4200052500 262730 268320 39200 295625 350004200047600 57355 240800 245100 Total Cash Available 392,355400,155 450,855 463,085423,505 468,330 Uses of Cash Payments for Purchases Wages and Salaries Rent Interest Tax Pre-paymnet Capital Investment 228000 190000 228000 400004500050000 7000 7500 285000 52000 7000 7500 258400 228000 65000 55000 7000 7000 7000 7000 50000 80000 275000 242000 292500 380400 290000431 Borrowings 20,000.00 70,000.00 Closing Balance 117,355158,155 158,355102,685 133,505 106,830