determine the total cash inflows. prepare the cash disbursement, cash collections

Cosmos Mattress Company, a manufacture of mattresses, prepared the following budgeted income statement for May: Net Sales Cost of Goods Sold Gross Margin Non-operating Income-rent $300,000 100,000 200,000 10,000 210,000 $110,000 Selling Expenses Operating expenses Wages Depreciation Interest Insurance Rent Income before taxes 20,000 5,000 1,200 200 500 136,900 $ 73.100 The cash balance on May 1 was $24,000. Half of the sales are collected in the month of sale, 40 percent in the next month, and 10 percent in the third month. Rental income is collect in month earned. Accounts receivable at May 1 was $520,000 ($70,000 for March sales and $450,000 from April sales). Inventory on May 1 was $80,000; it is expected to total $100,000 on May 31. Insurance is 1/12 of the annual premium. The premium is due in December. A $120,000, 1-year, 12 percent bank note is due in May; principle and interest are due in one payment at maturity. When paid, the note will have been outstanding for one year. Cosmos plans on purchasing $100,000 of equipment during May. The equipment has a five year life and will be depreciated using the straight-line method. Cosmos will pay cash for the equipment in the month acquired. the month incurred