entory, and owners' equity balances. Begin by calculating the cash balance i Data Table a. March 31 equipment balance, $52.600, accumulated depreciation, $41,800 b. April capital expenditures of $42,300 budgeted for cash purchase of equipment. c. April depreciation expense, $900 d. Cost of goods sold, 40% of sales. e. Other April operating expenses, including income tax, total $13 600, 25% of which will be paid in cash and the remainder accrued at April 30. f. March 31 owners' equity, $92,600 g. March 31 cash balance, $40,900 h. April budgeted sales, $87,000, 65% of which is for cash Of the remaining 35%, half wil be collected in April and half in May 1. April cash collections on March sales, $29,300 1. April cash payments of March 31 liabilities incurred for March purchases of inventory $17,400 k. March 31 inventory balance, $29,000 April purchases of inventory $10,800 for cash and $36,900 on credit. Half of the credit purchases will be paid in April and half in May Print Done 10 April. As Instrument Med Requirements ento 1. Prepare the budgeted balance sheet for Instrument Medical Supply at April 30. Show separate computations for cash, inventory, and owners' equity balances, 2. Prepare the combined cash budget for April 3. Suppose Instrument Medical Supply has become aware of more efficient (and more expensive) equipment than it budgeted for purchase in April. What is the total amount of cash available for equipment purchases in April, before financing, if the minimum desired ending cash balance is $12,000? (For this requirement, disregard the S42 300 initially budgeted for equipment purchases.) Before granting a loan to Instrument Medical Supply, Marine National Bank asks for a sensitivity analysis assuming that April sales are only $58,000 rather than the $87,000 originally budgeted (While the cost of goods sold will change, assume that purchases, depreciation, and the other operating expenses will remain the same as in the earlier requirements) a. Prepare a revised budgeted balance sheet for Instrument Medical Supply, showing separate computations for cash, inventory, and owners' equity balances b. Suppose Instrument Medical Supply has a minimum desired cash balance of $19,000 Will the company need to borrow cash in April? Print Done 9-62A (similar to) Instrument Medical Supply has applied for a loan Marine National Bank has requested a budgeted balance sheet as of April 30, and a combined cash tu (Click the icon to view the information) Read the requirements Requirement 1. Show separate computations for cash, inventory, and owners' equity balances. Begin by calculating the cash balance 40,900 Cash Beginning balance Cash inflows Cash sales Collections Cash outflows Payment of March liabilities Cash purchases Payments for April (credit) purchases Purchase of equipment Operating expenses Ending balance