Franklin, Inc sells fireworks. The company's marketing director developed the following cost of goods sold budget for April, May, June. and July. Franklin had a beginning inventory balance of $2,900 on Apmil 1 and a beginning balance in accounts payable of $15,000. The company desires to maintain an ending inventory balance equal to 15 percent of the next perlod's cost of goods sold Franklin makes all purchases on account. The company pays 70 percent of accounts payable in the mext penod's cost of goods sold Frankin makes in the month following purchase. Required 0. Prepare an inventory purchases budget for Aprit, May, and June b. Determine the amount of ending inventory Franklin will report on the end-of-quarter pro forma baiance sheet c. Prepare a schedule of cash payments for inventory for April, May, and June d. Determine the baiance in accounts payable Frankiin will report on the end-of-quarter pro forma balance sheet. Complete this question by entering vour answers in the tabs below. Determine the balance in accounts payable Franklif will report on the end-of-quarter pro forma balance sheet