Hi I need help with this problem.. show work please to

statement is as follows that Sky High Parachue Company's budgeted income 15,800,000 136000 17550000 19.300,000 24,400,000 21350,000 27,450000 30,500,000 Badgted goss marg Badgeted welling and 4,00000 400 00 3000000 3,00000 $25,000,000 Budgeted sales revenue is collected as folows: 60 percent of sales revenue is collected in cash. The remainder of sales is on credit and is collected as follows: During the quarter of sale, 35 percent. o During the quarter following the sale, 60 percent o Uncollected, 5 percent Cost of goods sold (manufacturing costs) consists of the tollowing: Materials purchases represent 70 percent of cost of goods sold. The company pays for 40 percent of maberials during the quarter of purchase and the remainder the next quarter The remaining 30 percent of cost of goods sold is made up of direct labor and manufacturinyg overhead including $400,000 in depreciation (a noncash expense). All of the cash payments tor direct labor and overhead are paid during the quarter incurred .Selling and administrative expenses are paid in the quarter after they are Required: Prepare the following schedules for quarters 2, 3, and 4.(You do not have enough information to prepare the cash budget for quarter 1, so assume its ending cash balance is $500,000.) 1. Cash receipts. 2. Cash payments 3. Cash budget