Glbson, Incorporated sells fireworks. The company's marketing director developed the following cost of goods sold budget for Aprll, May, June, and July.

$\backslash$table$[[$Budgeted cost of goods sold,April,May,June,July$],[79,600,$$$80,600,$$$90,600,$$$96,600,]]$

Gibson had a beginning inventory balance of $$3,800$ on April $1$ and a beginning balance in accounts payable of $$15,200.$ The company desires to maintain an ending inventory balance equal to $15$ percent of the next period's cost o goods sold. Gibson makes all purchases on account. The company pays $65$ percent of accounts payable in the month of purchase and the remaining $35$ 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 Gibson 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 ballance in accounts payable Gibson will report on the end$-$of$-$quarter pro forma balance sheet.

Complete this question by entering your answers in the tabs below.

Required A

Required $B$

Required $C$

Required D

Prepare an inventory purchases budget for April, May, and June.

$\backslash$table$[[$Inventory Purchases Budget,April,,May,June$],[$Budgeted cost of goods sold,$$.70,000,$$$,80,000,$s $90,000],[,,,,],[$Inventory needed,$70,000,,80,000,90,000],[,,,,],[$Required purchases $($on account$),$$$,70,000,$$$,80,000,$S $90,000]]$