Do all the requirements.

Cooke Company has provided the following budget information for the first quarter of 2016 : (Click the icon to view the budget information.) Additional data related to the first quarter of 2016 for Cooke Company: (Click the icon to view the data.) Read the Data table a. Capital expenditures include $43,000 for new manufacturing equipment to be purchased and paid in the first quarter. b. Cash receipts are 80% of sales in the quarter of the sale and 20% in the quarter following the sale. c. Direct materials purchases are paid 50% in the quarter purchased and 50% in the next quarter. d. Direct labor, manufacturing overhead, and selling and administrative costs are paid in the quarter incurred. e. Income tax expense for the first quarter is projected at $49,000 and is paid in the quarter incurred. f. Cooke Company expects to have adequate cash funds and does not anticipate borrowing in the first quarter. g. The December 31,2015 , balance in Cash is $32,000, in Accounts Receivable is $22,500, and in Accounts Payable is $9,000. Requirements 1. Prepare Cooke Company's schedule of cash receipts from customers and schedule of cash payments for the first quarter of 2016 . 2. Prepare Cooke Company's cash budget for the first quarter of 2016 . Cash Receipts from Customers First Quarter 2016 Total sales Cash Receipts from Customers: \begin{tabular}{|l||l|} \hline Accounts Receivable balance, December 31,2015 & \\ \hline 1st Qtr.-Sales & \\ \hline Total cash receipts from customers & \\ \hline \hline \end{tabular} Accounts Receivable balance, March 31, 2016: 1st Qtr.-Sales, collected in 2nd Qtr