Help me with this please.

eBook 34 Show Me How Cash Budget The controller of Sonoma Housewares Inc. Instructs you to prepare a monthly cash budget for the next three months. You are presented with the following budget information: May June July Sales $112,000 $132,000 $180,000 Manufacturing costs 47,000 57,000 65,000 Selling and administrative expenses 32,000 36,000 40,000 Capital expenditures 43,000 The company expects to sell about 10% of its merchandise for cash Of sales on account, 60% are expected to be collected in the month following the sale and the remainder the following month (second month following sale). Depreciation, insurance, and property tax expense represent $10,000 of the estimated monthly manufacturing costs. The annual insurance premium is paid in September, and the annual property taxes are paid in November. Or the remainder of the manufacturing costs, 85% are expected to be paid in the month in which they are incurred and the balance in the following month Current assets as of May 1 include cash of $43,000, marketable securities of $60,000, and accounts receivable of $134,000 ($98,000 from Aprit sales and $36,000 from March sales). Sales on account for March and April were $90,000 and $98,000, respectively. Current abilities as of May 1 Include $12,000 of accounts payable incurred in April for manufacturing costs. All selling and administrative expenses are paid in cash in the period they are incurred. An estimated income tax payment of $16,000 will be made in June. Sonoma's regular quarterly dividend of $10,000 is expected to be declared in June and paid in July, Management wants to maintain a minimum cash balance of $34,000 Required: 1. Prepare a monthly cash budget and supporting schedules for May, June, and July, Input all amounts as positive values except overall cash decrease and deficiency which should be indicated with a minus sign Sonoma Housewares Inc. Check My Work Save and Edt Submit Assignment for Grading All work saved MacBook Air eBook Show Me How July 18,000 74,400 X 45,500 53,800 Sonoma Housewares Inc. Cash Budget For the Three Months Ending July 31 May June Estimated cash receipts from: Cash sales 11,200 13,200 Collection of accounts receivable 94,800 79,520 X Total cash receipts Estimated cash payments for: Manufacturing costs 43,450 Selling and administrative expenses 32,000 Capital expenditures Other purposes: Income tax Dividends 75,50 97,500 Total cash payments Cash increase or (decrease) Cash balance at beginning of month 43,000 Cash balance at end of month 36,000 40,000 43,000 16,000 10,000 146,800 Minimum cash balance Excess (deficiency)