Here is an information regarding the relevant PDC company policies

The building rent is fixed at a monthly rate of $ 4,600. In the period January - June 2019 PDC The company decided not to buy trucks (fixed assets) anymore. Loan interest 1.5% per month applies. Payment of loan installments and interest is made at the end month. Depreciation expense is $ 1,150 per month. The minimum cash balance $23.000. Insurance expense per month is $ 460. PDC Company prepaid insurance, the balance is deducted automatically per month for $ 460. After the insurance balance is prepaid the value is 0, the new PDC company will make insurance repayments for 1 year. For the sake of simplicity of calculation, hence tax calculations are not included in this case study.

Based on the information above and some additional information below, do it following instructions:

a. Prepare the cash budget from January - June 2019.

b. Here is some additional information about the PDC Company. prepaid insurance for January 2019 is $ 5,520. Value of fixed assets (equipment,fixture & others) December 2018 was $ 92.000. PDC Company decided none purchase of fixed assets during January - June 2019. Accumulated depreciation on December 2018 is $ 39,790. December 2018's common stock (owner's equity) was $ 184,357.The number of common shares from January to April 2019 is calculated by adding up previous month's common stock with the current month's net income. Several occurence resulted in the value of the May 2019 common stock to be $ 13,625 and the value of the common stock for June 2019 was $ 37,155. Suppose the PDC Company set the amount of the loan as below:

Then compile the projected income statement and balance sheet for January - June 2019 with reference

in the additional information in point b and the information in the question narrative.

(A) SALES SCHEDULE DECEMBER JANUARY FEBRUARY MARCH APR MAY PUNE JULY Schedule 1: Sales forecast 160.000 700.000 900.000 1.000.000 1.100.000 1.400.000 1.500.000 1.200.000 Credits 64.000 280.000 360.000 400.000 400.000 560.000 600.000 680.000 Cash sales com 6.000 420.000 500.000 500.000 60.000 20.000 100.000 1.000.000 Soehdule 2:Cash Collections Cash sales this months 540.000 660.000 846.000 900.000 1.000.000 100% of last month's credit sales 64.000 280.000 360.000 400,000 400.000 560.000 600.000 Total collection 450.000 $20.000 700.000 1.000.000 1.200.000 1.400.000 1.600.000 MAY JUNE (8) PURCHASE SCHEDULE DECEMBER JANUARY FEBRUARY MARCH 132.400 350.000 600.000 62.000 APRIL 830.000 38.000 98.000 Schedule Purchases Ending inventory Cost of goods sold Total needed Beginning inventory Purchases Schedule 4 Purchase Disbursements 50 last month's purchase 50% of this month's purchases Disbursements for purchases 112.000 190.000 610.000 700.000 770.000 780.000 1.000.000 264.400 1.000.000 1.236.000 1.362.000 1.600.000 1.966.000 2.000.000 135.600 152.400 550.000 500.000 830.000.000 128.00 87.000 86.000 756.000 938.000 1036.000 1162.000 61.400 43.900 462.000 343.000 41.000 375.000 721.000 375.000 42.000 847,000 499.000 $18.000 11.000 581.000 987.000 1.099.000 APRIL MAY PUNE (C) WAGES AND COMMISIONS SCHEDULE DECEMBER AANUARY FEBRUARY MARCH Schedule 5: Wages and Commision Wages, all wed 3.50 3.750 5.750 Suso Commisions 15% of current sales 24.000 105.000 135.000 150.000 Total 23.750 110.750 100.750 15.750 Schedule 6: Disbursements 50% of last month's expenses 14.875 55 375 70.375 50% of this mont's expenses 55.37 70 375 77.875 Total 125.750 148.250 5.750 165.000 170.750 3.750 3.750 210.000 225.000 215.750 200.750 77.875 85.375 163.250 85.37 107:37 193.250 207.87 115.375 2019 January $ February $ March $ April $ May $ June $ 15.608 310.158 284.757 294.607 50.000 50.000 (A) SALES SCHEDULE DECEMBER JANUARY FEBRUARY MARCH APR MAY PUNE JULY Schedule 1: Sales forecast 160.000 700.000 900.000 1.000.000 1.100.000 1.400.000 1.500.000 1.200.000 Credits 64.000 280.000 360.000 400.000 400.000 560.000 600.000 680.000 Cash sales com 6.000 420.000 500.000 500.000 60.000 20.000 100.000 1.000.000 Soehdule 2:Cash Collections Cash sales this months 540.000 660.000 846.000 900.000 1.000.000 100% of last month's credit sales 64.000 280.000 360.000 400,000 400.000 560.000 600.000 Total collection 450.000 $20.000 700.000 1.000.000 1.200.000 1.400.000 1.600.000 MAY JUNE (8) PURCHASE SCHEDULE DECEMBER JANUARY FEBRUARY MARCH 132.400 350.000 600.000 62.000 APRIL 830.000 38.000 98.000 Schedule Purchases Ending inventory Cost of goods sold Total needed Beginning inventory Purchases Schedule 4 Purchase Disbursements 50 last month's purchase 50% of this month's purchases Disbursements for purchases 112.000 190.000 610.000 700.000 770.000 780.000 1.000.000 264.400 1.000.000 1.236.000 1.362.000 1.600.000 1.966.000 2.000.000 135.600 152.400 550.000 500.000 830.000.000 128.00 87.000 86.000 756.000 938.000 1036.000 1162.000 61.400 43.900 462.000 343.000 41.000 375.000 721.000 375.000 42.000 847,000 499.000 $18.000 11.000 581.000 987.000 1.099.000 APRIL MAY PUNE (C) WAGES AND COMMISIONS SCHEDULE DECEMBER AANUARY FEBRUARY MARCH Schedule 5: Wages and Commision Wages, all wed 3.50 3.750 5.750 Suso Commisions 15% of current sales 24.000 105.000 135.000 150.000 Total 23.750 110.750 100.750 15.750 Schedule 6: Disbursements 50% of last month's expenses 14.875 55 375 70.375 50% of this mont's expenses 55.37 70 375 77.875 Total 125.750 148.250 5.750 165.000 170.750 3.750 3.750 210.000 225.000 215.750 200.750 77.875 85.375 163.250 85.37 107:37 193.250 207.87 115.375 2019 January $ February $ March $ April $ May $ June $ 15.608 310.158 284.757 294.607 50.000 50.000