Data table The Gavin Tire Company manutactures racing tires for bicycles. Gavin sells tires for $70 eachi Gavin is planning for the next year by developing a master budget by quarters. Gavin's balance sheet for December 31, 2024, follows: [Click the icon to view the balance shoet] Other data for Gavin Tire Company: (Click the icon to viow the other data.) Read the requirements Requirement 1. Prepare Gavin's operating budget and cash budget for 2025 by quarter. Required schedules and budgets include: sales budget, production budget, direct materials budget labor budget, manulacturing overhead budget, cost of goods sold budget, seling and administrative expense budgot, schodule of cash recoipts, schodule of cash payments, and cash budg Manufacturing overhead costs are allocated based on direct labor hours. Round all calculations to the nearest dollar. Begin by preparing the sales budget. \begin{tabular}{|c|c|c|c|} \hline Less: Accumulated Depreciation & (39,000) & & 129,000 \\ \hline Total Assets & & $ & 192,800 \\ \hline \multicolumn{4}{|l|}{ Liabilities } \\ \hline \multicolumn{4}{|l|}{ Current Liabilities: } \\ \hline Accounts Payable & & \$. & 16.000 \\ \hline \multicolumn{4}{|c|}{ Stockholders' Equity } \\ \hline Common Stock, no par & 130.000 & & \\ \hline Retained Earnings & 46,800 & & \\ \hline Total Stockholders' Equity & & & 176,800 \\ \hline Total Liabilities and Stockholders' Equity & & $ & 192,800 \\ \hline \end{tabular} Print Done Data table The Gavin Tire Company manutactures racing tires for bicycles. Gavin sells tires for $70 eachi Gavin is planning for the next year by developing a master budget by quarters. Gavin's balance sheet for December 31, 2024, follows: [Click the icon to view the balance shoet] Other data for Gavin Tire Company: (Click the icon to viow the other data.) Read the requirements Requirement 1. Prepare Gavin's operating budget and cash budget for 2025 by quarter. Required schedules and budgets include: sales budget, production budget, direct materials budget labor budget, manulacturing overhead budget, cost of goods sold budget, seling and administrative expense budgot, schodule of cash recoipts, schodule of cash payments, and cash budg Manufacturing overhead costs are allocated based on direct labor hours. Round all calculations to the nearest dollar. Begin by preparing the sales budget. \begin{tabular}{|c|c|c|c|} \hline Less: Accumulated Depreciation & (39,000) & & 129,000 \\ \hline Total Assets & & $ & 192,800 \\ \hline \multicolumn{4}{|l|}{ Liabilities } \\ \hline \multicolumn{4}{|l|}{ Current Liabilities: } \\ \hline Accounts Payable & & \$. & 16.000 \\ \hline \multicolumn{4}{|c|}{ Stockholders' Equity } \\ \hline Common Stock, no par & 130.000 & & \\ \hline Retained Earnings & 46,800 & & \\ \hline Total Stockholders' Equity & & & 176,800 \\ \hline Total Liabilities and Stockholders' Equity & & $ & 192,800 \\ \hline \end{tabular} Print Done
