Given the numbers from the grey shaded boxes in the first two pictures, are the numbers for each month, beginning at 1. schedule of cash collections and ending at 4. cash budget, correct?

70 7 .00 70 Formatting Table Clipboard & Font Alignment Number Styles 55 X for co A B F G H D E Atlanta Corporation Balance Sheet December 31, 2018 $ $ Assets: Cash Accounts Receivable Inventory Prop, Plant & Equip PP&E Accum. Depr. 155,000 57,750 44,055 450,500 (270,300) Liabilities: Accounts Payable Taxes Payable Total Liabilities 75,290 15,000 90,290 $ - Ovo AWN $ Stockholders' Equity: Capital Stock Retained Earnings Total Equity 135,000 211,715 346,715 $ Total Assets $ 437,005 Total Liabilities & Equity S 437,005 Ending Inventory Policy: Month-end inventory balance as % of next month's cost of goods sold: 55% Worksheet BIU A 3 - $ -% 68-8 Conditional Format asce Formatting Table Style Clipboard Font Alignment Number Styles H55 A B Budgeted Sales Data: D E F G H December $ 220,000 $ January February March 200,250 $ 215,000 $225,500 $ April 230,500 Credit Policy: % of sales for cash: % of sales on credit: 25% 75% Collection Pattern for Credit Sales: Month of sale: 65% Month following sale: 35% Accounts Payable Policy: All inventory is purchased on credit, with the following pattern of payment: Payment in month of purchase 10% Payment in month following purchase: 90% Monthly budgeted expenses: Salaries Rent Depreciation Cost of goods sold Other expenses 85,000 paid in cash 4,500 paid in cash 3,500 40% of revenue 19% of sales, paid in cash 45 Worksheet @ - Ready Type here to search o e o == 20 Custom Paste 46 $ % 999 Arial 11 -AA = BIOA E Clipboard Font 455 X y fir AB 51 1. Schedule of cash collections: Conditional Format as ce Formatting Table Style Styles Alignment Number G H WN Budgeted Monthly Sales from above $ January February 200,250 $ 215,000 March 1st Quarter $ 225,500 $ 640,750 Cash from Current Month Cash Sales Cash from Current Month Credit Sales Cash from Prior Month Credit Sales Total Cash collections $ $ $|| 50,063 $ 53,750 $ 97,622 $ 104,813 $ 57,750 $ 52,566 $ 205,434 $ 211,128 $ 56,375 $ 160,188 109,931 $ 312,366 56,438 $ 166,753 222,744 $ 639,306 $ 205 - O 2 2. Schedule of cash disbursements for inventory purchases: A. Inventory purchases budget: Budgeted cost of goods sold Plus desired ending inventory Less beginning inventory Required inventory purchases January February 80,100 $ 86,000 $ 47,300 $ 49,610 $ 44,055 $ 47,300 $ 83,345 $ 88,310 $ March 1st Quarter 90,200 $ 256,300 50.710 $ 50,710 49,610 $ 44,055 91,300 $ 262,955 - B. Schedule of cash disbursements for purchases of inventory: January February Worksheet March 1st Quarter BILA - $ % ) Conditional Format Formatting Table Clipboard F Font Alignment Number Styles H55 AB 81 82 . : X fie D Salaries Rent Other expenses Total cash for operating expenses $ E F 85,000 $ 85,000 $ 4,500 $ 4,500 $ 38,048 $ 40,850 $ 127,548 $ 130,350 $ G 85,000 $ 255,000 4,500 $ 13,500 42,845 $ 121,743 132,345 $ 390,243 $ 84 85 86 87 4. 88 Cash Budget: 89 90 January February 155,000 $ 149,262 $ 205,434 $ 211,128 $ March 1st Quarter 146,199 $ 155,000 222,744 $ 639,306 $ Beginning cash balance Plus cash collections from above Less disbursements: Purchases of inventory from above Operating expenses from above Ending cash balance $ $ 83,625 $ 127,548 $ 149,262 $ 83,842 $ 130,350 $ 146,199 $ 88,609 132,345 147,989 $ 256,075 $ 390,243 $ 147,989 *EXTRA CREDIT* Income Statement: 99 5. 00 01 Atlanta Corporation Pro Forma Income Statement Worksheet