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Vinning Office Supply's March 31, 2016, balance sheet follows:

Vinning Office Supply
Balance Sheet
March 31, 2016
Assets
Current Assets:
Cash	$23,000
Accounts Receivable	19,000
Merchandise Inventory	35,500
Prepaid Insurance	2,000
Total Current Assets		$79,500
Property, Plant, and Equipment:
Equipment and Fixtures	61,000
Less: Accumulated Depreciation	(12,000)	49,000
Total Assets		$128,500

Liabilities
Current Liabilities:
Accounts Payable		$14,000
Salaries and Commissions Payable		3,225
Total Liabilities			$17,225
Stockholders' Equity
Common Stock, no par		18,000
Retained Earnings		93,275
Total Stockholders' Equity			111,275
Total Liabilities and Stockholders' Equity			$128,500

More info a. Sales in April are expected to be $180,000. Vinning forecasts that monthly sales will increase 2% over April sales in May. June's sales will increase by 4% over April sales. July sales will increase 20% over April sales. Cash receipts are 80% in the month of the sale and 20% in the month following the sale. b. Vinning maintains inventory of $13,000 plus 25% of the cost of goods sold budgeted for the following month. Cost of goods sold equal 50% of sales revenue. Purchases are paid 30% in the month of purchase and 70% in the month following the purchase. c. Monthly salaries amount to $6,000. Sales commissions equal 5% of sales for that month. Salaries and commissions are paid 70% in the month incurred and 30% in the following month. d. Other monthly expenses are as follows: - Rent: $2,600, paid as incurred - Depreciation: $300 - Insurance: \$200, expiration of prepaid amount - Income tax: $2,200, paid as incurred Requirements 1. Prepare Vinning's sales budget for April and May 2016. Round a/l amounts to the nearest dollar. 2. Prepare Vinning's inventory, purchases, and cost of goods sold budget for April and May. 3. Prepare Vinning's selling and administrative expense budget for April and May. Requirement 1. Prepare Vinning's sales budget for April and May 2016. Round a/l amounts to the nearest dollar. Requirement 2. Prepare Vinning's inventory, purchases, and cost of goods sold budget for April and May