Current collections	60	Days
Average collections goal	35	Days
Tax Rate	42%
COGS	70%	Of Sales
Selling & Admin	13%	of Sales
	Actual	Actual	Est	Est	Est	Est	Est	Est
	May	June	July	August	September	October	November	December
Sales	$ 1,733.00	$ 1,845.00	$ 1,957.50	$ 2,070.00	$ 2,205.00	$ 2,362.50	$ 2,475.00	$ 2,565.00
Collection Period	60	60	50	50	42	42	35	35
Purchases:	$ 675.00	$ 607.50	$ 585.00	$ 585.00	$ 585.00	$ 585.00	$ 585.00	$ 585.00
Paid in	40	40	40	40	40	40	40	40
Labour			$ 195.00	$ 195.00	$ 195.00	$ 195.00	$ 195.00	$ 195.00
Other Manufacturing			$ 375.00	$ 375.00	$ 375.00	$ 375.00	$ 375.00	$ 375.00
Amortization			$ 38.00	$ 38.00	$ 38.00	$ 38.00	$ 38.00	$ 38.00
Payment on Notes				$ 675.00			$ 675.00
Interest Expense						$ 270.00
Taxes						$ 338.00
Dividends			$ 22.50			$ 22.50
					TOYS FOR YOU
					Balance Sheet
					June 30, 2016 ($000)
		Assets						Liabilities and Shareholders' Equity
Cash					666		Accounts Payable				945
Accounts Receivable					3,578		Notes Payable				3700
Inventory					8,231		Accrued Liabilities				2596
Total Current Assets					12,475		Total Current Liabilities				7241
Plant and Equipment				11,273			Long-term Debt				4725
Less: Accumulated Amortization				4,784	6,489		Common Stock				4500
							Retained Earnings				2498
Total Assets					18,964		Total Liabilities and Shareholders' Equity				18964
							Cash Budget July - December, 2016
				May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
Sales				1,733.0	1,845.0	1,957.5	2,070.0	2,205.0	2,362.5	2,475.0	2,565.0
Cash Receipts:
First Month after Sale							652.5	690.0	1,323.0	1,417.5	2,062.5
Second Month after Sale						1,733.0	1,845.0	1,305.0	1,380.0	882.0	945.0
Total Cash Receipts						1,733.0	2,497.5	1,995.0	2,703.0	2,299.5	3,007.5
Accounts Receievable					3,578.0
Receipts						1,733.0	2,497.5	1,995.0	2,703.0	2,299.5	3,007.5
less payments
Net Receipts
Accumlated Cash					666
				May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
Purchases				675	607.5	585	585	585	585	585	585
Cash Payments:
Pmts first month after purchase
Pmts second month after purchase
Accounts Payable					945.0
Labour						195.0	195.0	195.0	195.0	195.0	195.0
Manufacturing Expense						375.0	375.0	375.0	375.0	375.0	375.0
Selling and Administrative				225.3	239.9	254.5	269.1	286.7	307.1	321.8	333.5
Payment on Notes Payable							675.0			675.0
Interest									270.0
Income Taxes									338.0
Cash Dividends						22.5			22.5
Total Cash Payments				225.3	239.9	847.0	1,514.1	856.7	1,507.6	1,566.8	903.5
COG Produced
COGS								0.0			0.0
Inventory					8,231

Using the information above, Pro Forma Quarterly income statement for period ending Sep 2016 and period ending Dec 2016 (35 Days)