How do I calculate the budgeted cash at the end of the first quarter?

Dump Company has the following post-closing trial balance on December 31, 2018:

(Click the icon to view the post-closing trial balance.)The company's accounting department has gathered the following budgeting information for the first quarter of

2019:

Rent and income tax expenses are paid as incurred. Insurance expense is an expiration of the prepaid amount.

Read the requirements

.Requirement 1. Prepare a budgeted income statement for the quarter ended

March

31,

2019.

Dump Company

Budgeted Income Statement

For the Quarter Ended March 31, 2019

Data Table

Dump Company
Post-Closing Trial Balance
December 31, 2018
Account	Debit	Credit
Cash	$21,000
Accounts Receivable	18,000
Merchandise Inventory	15,000
Prepaid Insurance	2,500
Equipment and Fixtures	45,000
Accumulated Depreciation		$23,000
Accounts Payable		25,000
Salaries and Commissions Payable		6,300
Common Stock		10,000
Retained Earnings		37,200
Totals	$101,500	$101,500

PrintDone

Data Table

Budgeted total sales, all on account	$121,300
Budgeted purchases of merchandise inventory, all on account	60,500
Budgeted cost of goods sold	60,650
Budgeted selling and administrative expenses:
Commissions expense	6,065
Salaries expense	4,000
Rent expense	4,500
Depreciation expense	900
Insurance expense	600
Budgeted cash receipts from customers	126,120
Budgeted cash payments for merchandise inventory	68,150
Budgeted cash payments for salaries and commissions	14,634
Budgeted income tax expense	5,300