HASF and company is a retails hardware store information about the store operations follows

November 2017 sales 400,000

Sales are budgeted 440,000 for December and 4 00,000 for January 2018

Credit sales typically are 80% of total sales Collection are expected to 55% in the month of sales and 45% in the month following sales

Gross profit margin 25%

A total of 80% of the merchandise for resale its purchase in the month prior to the month of sales and 20% is purchase in the month of sales payment for merchandise is made in the month following the purchase

Other month expenses paid in cash amount 45,200

Annual depreciation is 432,000

The company balance sheet as of November 30 2017 is as follow

HASF Hardware inc

Balance sheet

As on November 30 2018

Cash 44,000

A/c receivable 152,000

Inventory 280,000

Property plant and equipment 1,724,000

Total assets 2,200,000

a/c payable 324,000

common stock 1,590,000

Retained earning 286,000

Total liabilities and owner equity 2,200,000

Required

Schedule of expected cash collection in \Dec 2017 Schedule of expected cash disbursement in Dec 2017 Cash budget in Dec 2017 Budgeted income statement in Dec 2017 Budgeted balance sheet as on Dec 2017