Developing a Master Budget for a Merchandising Organization Peyton Department Store prepares budgets quarterly. The following information is available for use in planning the second quarter budgets for 2010. Actual and forecasted sales for selected months in 2010 are as follows: Monthly operating expenses as follows: (a) Prepare a purchases budget for each month of the second quarter ending June 30,2010. \begin{tabular}{l|l|llll} Part A & Part B & Part C & Part D & Part E & Part F \end{tabular} (b) Prepare a cash receipts schedule for each month of the second quarter ending June 30, 2010. Do not include borrowings. Peyton Department Store Schedule of Monthly Cash Receipts Quarter Ending June 30, 2010 \begin{tabular}{llllll} & April & May & June & Total \\ \hline Total cash receipts & $46,000$54,000$ & 64,000$ & 164,000 \\ \hline \end{tabular} Check Part A Part B Part C Part D Part P Part (c) Prepare a cash disbursements schedule for each month of the second quarter ending June 30,2010 . Do not include repayments of borrowings. Peyton Department Store Schedule of Monthly Cash Disbursements Quarter Ending June 30, 2010 \begin{tabular}{l|lllll} & April & May & June & Total \\ \hline Total cash disbursements & $99,000$61,000$60,000$200,000 \\ \hline \end{tabular} Check (d) Prepare a cash budget for each month of the second quarter ending June 30,2010 . Include budgeted borrowings and repayments. Only use negative signs, if needed, for: excess receipts over disbursements, balance before borrowings and cash balances (beginning and ending (e) Prepare an income statement for each month of the second quarter ending June 30, 2010. Only use negative signs to show net losses in income. (f) Prepare a budgeted balance sheet as of June 30,2010