Hi can you help me answer the required section and explain how it is done?

BAC607 Budgeting Exercise The following information relates to the operations of Goldstar Ltd. You are required to prepare a full budget for Goldstar Ltd, including the cash budget, budgeted income statement and the budgeted balance sheet for the end of the quarter. Balance sheet for the quarter ending 31 March 2020 + un un ASSETS Current Assets Cash 40,000 Accounts receivable 30,000 Inventory 20,000 Total Current Assets 90,000 Non-current Assets Equipment 265,000 Land 85,000 Total Non-current Assets 350,000 TOTAL ASSETS 440,000 Liabilities Current Liabilities Accounts payable 12,000 Short-term loan 35,000 Total Current Liabilities 47,000 Non-Current Liabilities Mortgage 100,000 Total Liabilities Equity Share capital 100,000 Retained Earnings 193,000 Total Equity 293,000 Total Liabilities and Equity 440,000Expected sales (units) m manam: Further information: 0 Each unit is sold for 510 0 Cost of goods sold are 50% of sale price I 70% of sales are cash {received in the month of sale} I 30% is collected in the following month Purchases The inventory at the end of each month is to be 20% of next month's sales. This inventory is produced to ensure there are goods for sale at the start of the month. As can be seen from the balance sheet, there are 520,000 ofgoods in the inventory. This is the equivalent of 4,000 units. The inventories are paid for 50% in the month of purchase and 50% in the following month. Selling and administrative costs, including depreciation The variable element of Selling and Administration costs if 50.50 per unit sold {not produced). The xed costs excluding depreciation are 562,500 per month. Depreciation is $30,000 per quarter. Capital expenditure Goldstar intends to buy more equipment. This will cost $143,700 in May and 548,300 in June. Financing Goldstar Ltd is paying back $5,000 ofthe principal of the short-term loan per month, along with the interest on the remaining loan balance at a rate of 12% per annum. The mortgage is currently interest-only at a rate of 4% per annum. A dividend of $49,000 will be paid in April. Required: You are required to complete the following schedules and accounts for the budget: a} Sales budget with a schedule of expected cash collections; b} Purchases budget; c) Selling and administrative costs budget; d} Cash budget; e} Budgeted Income statement for the Apr-Jun quarter; and f} A Budgeted Balance sheet for the end of the quarter