Dimsdale Sports, a merchandising compary, teports the following balance sheet at December 31 To prepare a master budget for famiary, February, and March, use the following information. a. The company's single product is purchased for $30 per unit and resold for 556 per unit. The inventory level of 5,000 units on December 31 is more than management's desirgs level, which is 20% of the next month's budgeted sales units. Budgeted sales are. January, 7,000 unts. February, 8,750 unts, March 10.500 units, and Apni 9,000 units Alt sales are on credie b. Cash receipts from sales are budgeted as follows, January, $247,600. February, $704,384, March, $492,646 c. Cash payments for merchandise purchases are budgeted as fotows. January, 570,000 , February, 5322.500 , March, 5144,600 d. Sales commissions equal to 20h iof sales doltars are pad each month. Sales salares (excluding commissions) are 58.000 per month e. General and adminisvative sataries are \$12,000 per month. Maintenance expense equals $1,900 per month and is paid in cash. 1. New equlpment purchases are budgeted as follows, January, $38,400, Fetruary, $98,400, and Mareh, $21,600 Budqcted depreciation experse is January, 56.650 , February. 57675 , and March, $7900 9. The company budgets a land purchase at the end of March at a cost of 5165,000 , which will be paid with cash on the last day of the month. h. The company has an agreement with its bank to obtain addtional toans as needed the kiterest rate is 13 per month and interest is paid at each monthend based on the beginning month balance. Partal or full payments on these loans are made on the last day of the month. The company maintains a minimarn ending cash batance of 521.500 at the end of each month. 1. The income taxiate for the company is 39 . Income taxes on the fent quarters income wal not be padid urit Apail is Required: Prepare a master budget for the months of January, February, and March that has the following budgets: 1. Sales budgets. 2. Merchandise purchases budgets. 3. Selling expense budgets 4. General and administrative expense budgets. Hint: Depreciation is included in the general and administrative budget for merchandisers. 5. Capital expenditures budgets: 6. Cash budgets. 7. Budgeted income statement for entire quarter (not monthly) ended March 31 8. Budgeted balance sheet as of March 31. Complete this question by entering your answers in the tabs below. Merchandise purchases budgets. Required: Prepare a master budget for the months of January. February, and March that has the following budgets: 1. Sales budgets. 2. Merchandise purchases budgets. 3. Selling expense budgets. 4. General and administrative expense budgets. Hint: Depreciation is included in the general and administrative budget for merchandisers. 5. Capital expenditures budgets 6. Cash budgets. 7. Budgeted income statement for entire quarter (not monthly) ended March 31. 8. Budgeted balance sheet as of March 31 . Complete this question by entering your answers in the tabs below. Selling expense budgets. Required: Prepare a master budget for the months of January, February, and March that has the following budgets: 1. Sales budgets 2. Merchandise purchases budgets 3. Selling expense budgets. 4. General and administrative expense budgets. Hint: Depreciation is included in the general and administrative budget for merchandisers. 5. Capital expenditures budgets. 6. Cash budgets. 7. Budgeted income statement for entire quarter (not monthly) ended March 31. 8. Budgeted balance sheet as of March 31 . Complete this question by entering your answers in the tabs below. General and administrative expense budgets. Hint: Depreciation is included in the general and administrative budget for merchandisers. Required: Prepare a master budget for the months of January. February, and March that has the following budgets: 1. Sales budgets. 2 Merchandise purchases budgets. 3. Selling expense budgets. 4. General and administrative expense budgets. Hint Depreciation is included in the general and administrative budget for merchandisers. 5. Capital expenditures budgets: 6. Cash budgets. 7. Budgeted income statement for entire quarter (not monthly) ended March 31. 8. Budgeted balance sheet as of March 31. Complete this question by entering your answers in the tabs below. Capital expenditures budgets. Cash budgets. (Negative balances and Loan repayment amounts (if any) should be indicatnd with minus sign. Round your final answers to the nearest whole dollar.) Budgeted income statement for the entire first quarter (not for each month). (Pound your final answers to the nearest whole dollar.) 8. Budgeted balance sneet as of March 3 . Complete this question by entering your answers in the tabs below. Budgeted balance sheet as of March 31. (Round your final answers to the nearest whole dollar.) Dimsdale Sports, a merchandising company, reports the following balance sheet at December 31 . To prepare a master budget for January, February, and March, use the following information. 0. The company's single product is purchased for $30 per unit and resold for $56 per unit. The inventory level Dimsdale Sports, a merchandising compary, teports the following balance sheet at December 31 To prepare a master budget for famiary, February, and March, use the following information. a. The company's single product is purchased for $30 per unit and resold for 556 per unit. The inventory level of 5,000 units on December 31 is more than management's desirgs level, which is 20% of the next month's budgeted sales units. Budgeted sales are. January, 7,000 unts. February, 8,750 unts, March 10.500 units, and Apni 9,000 units Alt sales are on credie b. Cash receipts from sales are budgeted as follows, January, $247,600. February, $704,384, March, $492,646 c. Cash payments for merchandise purchases are budgeted as fotows. January, 570,000 , February, 5322.500 , March, 5144,600 d. Sales commissions equal to 20h iof sales doltars are pad each month. Sales salares (excluding commissions) are 58.000 per month e. General and adminisvative sataries are \$12,000 per month. Maintenance expense equals $1,900 per month and is paid in cash. 1. New equlpment purchases are budgeted as follows, January, $38,400, Fetruary, $98,400, and Mareh, $21,600 Budqcted depreciation experse is January, 56.650 , February. 57675 , and March, $7900 9. The company budgets a land purchase at the end of March at a cost of 5165,000 , which will be paid with cash on the last day of the month. h. The company has an agreement with its bank to obtain addtional toans as needed the kiterest rate is 13 per month and interest is paid at each monthend based on the beginning month balance. Partal or full payments on these loans are made on the last day of the month. The company maintains a minimarn ending cash batance of 521.500 at the end of each month. 1. The income taxiate for the company is 39 . Income taxes on the fent quarters income wal not be padid urit Apail is Required: Prepare a master budget for the months of January, February, and March that has the following budgets: 1. Sales budgets. 2. Merchandise purchases budgets. 3. Selling expense budgets 4. General and administrative expense budgets. Hint: Depreciation is included in the general and administrative budget for merchandisers. 5. Capital expenditures budgets: 6. Cash budgets. 7. Budgeted income statement for entire quarter (not monthly) ended March 31 8. Budgeted balance sheet as of March 31. Complete this question by entering your answers in the tabs below. Merchandise purchases budgets. Required: Prepare a master budget for the months of January. February, and March that has the following budgets: 1. Sales budgets. 2. Merchandise purchases budgets. 3. Selling expense budgets. 4. General and administrative expense budgets. Hint: Depreciation is included in the general and administrative budget for merchandisers. 5. Capital expenditures budgets 6. Cash budgets. 7. Budgeted income statement for entire quarter (not monthly) ended March 31. 8. Budgeted balance sheet as of March 31 . Complete this question by entering your answers in the tabs below. Selling expense budgets. Required: Prepare a master budget for the months of January, February, and March that has the following budgets: 1. Sales budgets 2. Merchandise purchases budgets 3. Selling expense budgets. 4. General and administrative expense budgets. Hint: Depreciation is included in the general and administrative budget for merchandisers. 5. Capital expenditures budgets. 6. Cash budgets. 7. Budgeted income statement for entire quarter (not monthly) ended March 31. 8. Budgeted balance sheet as of March 31 . Complete this question by entering your answers in the tabs below. General and administrative expense budgets. Hint: Depreciation is included in the general and administrative budget for merchandisers. Required: Prepare a master budget for the months of January. February, and March that has the following budgets: 1. Sales budgets. 2 Merchandise purchases budgets. 3. Selling expense budgets. 4. General and administrative expense budgets. Hint Depreciation is included in the general and administrative budget for merchandisers. 5. Capital expenditures budgets: 6. Cash budgets. 7. Budgeted income statement for entire quarter (not monthly) ended March 31. 8. Budgeted balance sheet as of March 31. Complete this question by entering your answers in the tabs below. Capital expenditures budgets. Cash budgets. (Negative balances and Loan repayment amounts (if any) should be indicatnd with minus sign. Round your final answers to the nearest whole dollar.) Budgeted income statement for the entire first quarter (not for each month). (Pound your final answers to the nearest whole dollar.) 8. Budgeted balance sneet as of March 3 . Complete this question by entering your answers in the tabs below. Budgeted balance sheet as of March 31. (Round your final answers to the nearest whole dollar.) Dimsdale Sports, a merchandising company, reports the following balance sheet at December 31 . To prepare a master budget for January, February, and March, use the following information. 0. The company's single product is purchased for $30 per unit and resold for $56 per unit. The inventory level