Franklin, Incorporated selis fireworks. The company's marketing director developed the following cost of goods sold budget for Aprii, May, June, and July: Franklin had a beginning inventory balance of $3,000 on April 1 and a beginning balance in accounts payable of $15,800. The company desires to maintain an ending inventory balance equal to 20 percent of the next period's cost of goods sold. Franklin makes all purchases on account. The company pays 70 percent of accounts payable in the month of purchase and the remaining 30 percent in the month following purchase. Required a. Prepare an inventory purchases budget for April, May, and June. b. Determine the amount of ending inventory Franklin will report on the end-of-quarter pro forma balance sheet. c. Prepare a schedule of cash payments for inventory for April, May, and June. d. Determine the balance in accounts payable Franklin will report on the end-of-quarter pro forma balance sheet. Answer is not complete. Complete this question by entering your answers in the tabs below. Determine the amount of ending inventory frankin will report on the end-of-quarter pro forma balance sheet. Franklin had a beginning inventory balance of $3,000 on April 1 and a beginning balance in accounts payable of $15,800. The company desires to maintain an ending inventory balance equal to 20 percent of the next period's cost of goods sold. Franklin makes all purchases on account. The company pays 70 percent of accounts payable in the month of purchase and the remaining 30 percent in the month following purchase. Required a. Prepare an inventory purchases budget for April, May, and June. b. Determine the amount of ending inventory Franklin will report on the end-of-quarter pro forma balance sheet. c. Prepare a schedule of cash payments for inventory for April, May, and June. d. Determine the balance in accounts payable Franklin will report on the end-of-quarter pro forma balance sheet. 8 Answer is not complete. Complete this question by entering your answers in the tabs below. Prepare a schedule of cash payments for inventory for April, May, and June. Note: Round your finat answers to the nearest whole dollar. Franklin had a beginning inventory balance of $3,000 on April 1 and a beginning balance in accounts payable of $15,800. The company desires to maintain an ending inventory balance equal to 20 percent of the next period's cost of goods sold. Franklin makes all purchases on account. The company pays 70 percent of accounts payable in the month of purchase and the remaining 30 percent in the month following purchase. Required a. 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 balance sheet. c. Prepare a schedule of cash payments for inventory for April, May, and June. d. Determine the balance in accounts payable Franklin will report on the end-of-quarter pro forma balance sheet: Answer is not complete. Complete this question by entering your answers in the tabs below. Determine the balance in accounts payable Frankin will report of the end-of-quarter pro forma balance sheet