G through J ONLY please those are the only ones i need help on

Thornton Company is a retail company that specializes in selling outdoor camping equipment. The company is considering opening a new store on October 1, year 1. The company president formed a planning committee to prepare a master budget for the first three months of operation. As budget coordinator you have been assigned the following tasks. Required a. October sales are estimated to be $400,000, of which 40 percent will be cash and 60 percent will be credit. The company expects sales to increase at the rate of 30 percent per month. Prepare a sales budget b. The company expects to collect 100 percent of the accounts receivable generated by credit sales in the month following the sale. Prepare a schedule of cash receipts. c. The cost of goods sold is 70 percent of sales. The company desires to maintain a minimum ending Inventory equal to 20 percent of the next month's cost of goods sold. However, ending inventory of December is expected to be $13,500. Assume that all purchases are made on account. Prepare an inventory purchases budget. d. The company pays 70 percent of accounts payable in the month of purchase and the remaining 30 percent in the following month. Prepare a cash payments budget for inventory purchases. e. Budgeted selling and administrative expenses per month follow. Salary expense (fixed) Sales Commissions Supplies expense Utilities (fixed) Depreciation on store fixtures (fixed)" Rent (fixed) Miscellaneous (Fixed) $19,500 4% of Sales 2% of Sales $ 2,900 $ 5,500 $ 6,300 $ 2,700 "The capital expenditures budget indicates that Thornton will spend $167.000 on October 1 for store fixtures, which are expected to have a $35,000 salvage value and a two-year (24-month) useful life www have a $35,000 salvage value and a two-year (24-month) useful life. Use this information to prepare a selling and administrative expenses budget f. Utilities and sales commissions are paid the month after they are incurred; all other expenses are paid in the month in which they are incurred. Prepare a cash payments budget for selling and administrative expenses. 9. Thornton borrows funds, in increments of $1000, and repays them on the last day of the month, Repayments may be made in any amount available. The company also pays its vendors on the last day of the month. It pays interest of 2 percent per month in cash on the last day of the month. To be prudent , the company desires to maintain a $27.000 cash cushion. Prepare a cash budget. h. Prepare a pro forma income statement for the quarter. 1. Prepare a pro forma balance sheet at the end of the quarter, J. Prepare a pro forma statement of cash flows for the quarter. BOOK Complete this question by entering your answers in the tabs below. Required A Required Required Hequired required e Required Required Required Required Required) Prepare a pro forma statement of cash flows for the quarter. (Cash outflows should be indicated with a minus sig.) THORNTON COMPANY Pro Forma Statement of Cash Flow For the Quarter Ended December 31 Year! Cash flows from operating activities Cath roots from customers S 1.190.400 Cash payments for inventory 11.013,082 Required A Requirea Required Required D Required t required required Grequired H Required 1 Required Thornton borrows funds, in increments of $1,000, and repays them on the last day of the month, Repayments may be made in any amount available. The company also pays its vendors on the last day of the month. It pays interest of 2 percent per month in cash on the last day of the month. To be prudent, the company desires to maintain a $27,000 cash cushion. Prepare a cash budget. (Any repayments should be indicated with a minus sign.) Show less Cash Budget October November December $ 0 160.000 160,000 157.540 157,540 306,212 306,212 Section 1: Cash Receipts Beginning cash balance 'Add: Cash receipts Total cash available Section 2: Cash Payments Purchase of store fixtures For inventory purchases For selling and administrative expenses Interest expense 0 0 167,000 246,960 36,500 0 375,928 57.800 65,720 450 460 433,728 65,720 Total budgeted disbursements Section 3: Financing Activities (290,460) (276,188) 240,492 Borrowing repayment) Ending cash balance $(200,460) $ (276,188) $ 240.492 Required A Required B Required C Required D Required E Required F Required G Required H Required 1 Required) Prepare a pro forma income statement for the quarter. THORNTON COMPANY Pro Forma Income Statement For the Quarter Ended December 31. Year 1 Sales revenue $ 1,596,000 Cost of goods sold 1.117 200 Gross margin 478.800 Selling and administrative expenses 206.460 Operating income 272,340 interest expense 12,551 Net income $ 259.789 Prepare a pro forma balance sheet at the end of the quarter. (Amounts to be deducted should be indicated by a minus sig THORNTON COMPANY Pro Forma Balance Sheet December 31, Year 1 Assets Cash Accounts receivable 27,000 405,600 13,500 Inventory Store fixtures Accumulated depreciation $ 167.000 (16,500) 150,500 596,600 Total assets $ $ Liabilities Accounts payable Sales commissions payable Utilities payable Line of credit liability 117,618 27,040 2,900 189,253 Equity Retained earnings 259,789 Total liabilities and equity $ 596,600 Prev Next Required A Required B Required C Required D Required E Required F Required G Required H Required I Required) Prepare a pro forma statement of cash flows for the quarter. (Cash outflows should be indicated with a minus sign.) THORNTON COMPANY Pro Forma Statement of Cash Flows For the Quarter Ended December 31, Year 1 Cash flows from operating activities Cash receipts from customers S 1.190,400 Cash payments for inventory (1,013,082) Cash payments for selling and administrative expenses (160,020) Cash payments for interest expense (12,551) Net cash flows from operating activities $ 4,747 Cash flows from investing activities Cash payment for store fixtures (167,000) Cash flow from financing activities 189,253 Net increase in cash 27,000 $ 27,000 Ending cash balance (Required I Required ***