Help Save & Exit Submit Deacon Company is a merchandising company that is preparing a budget for the three-month period ended June 30th. The following information is available Deacon Company Balance Sheet March 31 Assets Cash Accounts receivable Inventory Buildings and equipment, net of depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total liabilities and stockholders' equity $ 57,600 40,400 52,300 173,000 $ 323, 300 $ 115,400 70,000 137,900 $ 323,300 Budgeted Income Statements April Sales $141,000 Cost of goods sold 84,600 Gross margin 56,400 Selling and administrative expenses_21,100 Net operating income $ 35,300 May $151, 90,600 60,400 22,600 $ 37,800 June $171,000 102,600 68,400 25,600 $ 42,800 for April, May, and June. 4. Prepare a budgeted balance sheet at June 30th. (Hint: You need to calculate the cash paid for selli during April, May, and June to determine the cash balance in your June 30th balance sheet.) Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Calculate the budgeted merchandise purchases for April, May, and June. April May June Total Budgeted merchandise purchases help Sove & Exit Sub Prepare a budgeted balance sheet at June 30th. (Hint: You need to calculate the cash paid for selling and administrative expenses during April, May, and June to determine the cash balance in your June 30th balance sheet.) Deacon Company Balance Sheet June 30 Assets Total assets Liabilities and Stockholders' Equity Total liabilities and stockholders' equity