I am having issue with this problem. Please help me. I was able to do the purchase budget and income statement and even cash in but cash out figures are wrong (those ones in the cash out green colored that show they are right are NOT right since I made deliberate addition/subtraction to make them right rest figures are accurate) Please help me where I am making mistake. Thanks

Activities LibreOffice Calc 20.2 C Jun 14 18:26:33 vbedi_mod6_excel.xisx - LibreOffice Cale File Fdit View Insert Farmat Styles Sheet Data Tacls Wincow Help abs AL : A A % 74 00 00 * BIU Calibri 11 Noprincipal paymcnts are scheduled to be made on the long-term dcbt until September af 2019. A65 34 Purchases are are all an credit. A Actual Purchases made in December 201 $122,090 35 73,658 Purchases paid in current month 74,579 36 70.00 % 79,162 30.00 % 36.627 33.927! 31.568 31.962 3/ Purchases paid in next manth 38 Marketing expenses have a fixed and variable portion: 40 Fixed nartion for $3.450 $3,450 $3,450 $3.450 The flxed portion f the marketing is pald in the current month. 41 2,024 42 Variable portion as a percentage of sales 1.10% 1,969 1,793 The variable portion is paid two months after the month incurred. 43 5,474 Total marketing for month Expense 5,419 5,243 3,680 46 Sales commission as a percent of sales 3,260 2,00% 3.580 Sales commission are paid one month after the month incurred 47 48 49 Selling and Administrative expenses have a fixed and variable portion: 50 Fixed portion Is pald in the month incurred Variable portion as a percentage of sales $21,300 $21,300 $21,300 $21,300 24.060 23.745 21.300 Variable S&A expenses are paid one month after the month incurred 57 53 54 Insurance policy 55 Months of insurance coverage paid for 56 The policy period is from February 1 to January 31 each year The premium to be paid on February 12 $14,640 , 2019 is The premium will be charged to prepaid insurance 1.220 1.220 1.220 58 59 60 Depreciation expense per month $5,080 $5,080 $5.080 $5,080 61 62 The annual interest rate on the long term debt is 4.65% 465 465 465 Interest is incurred on the principal balance outstanding each month. 63 Interest is paid on a quarterly basis. Tnterest for Decenbe No principal payments are scheduled 64 paldMarth 2019 65 emade on the long-term Dec 2018 Baarce Sheet A. Purcn dat n es heeme Satement D.Budgeted Balance She Budget Planning Document Fho 1 of werage Sum ish (USA Activities LibreOffice Calc 20.2 "C Jun 14 18:26:39 vbedi_mod6_excel.xisx - LibreOffice Cale File Fdit View Insert Farmat Styles Sheet Data Tacls Wincow Help abs AL 2:& A % 74 00 00 Calibri BIU 11 fx = A79 G 48 49 Selling and Administrative expenses have a fixed and varlable portion: 50 Fixed portion is paid in the month incurred 51 Variable portion as a percentage of sales A $21.300 $21.300 $21,300 2,760 24,060; $21,300 2,445 1.50% 2,685 Varlable S&A expenses are pald one month after the month incurred 21,300 23.745 for 54 Insurance policy 55 Months of insurance coverage paid for 56 The policy period is from February 1 to January 31 each year 12 $14.640 57 The premnium to be paid on February , 2019 is 1,220 The premlum will be charged to prepald insurance 1,220 1,220 60 Depreciation expense per month $5,080 $5.080 $5.080 $5.080 61 62 The annual interest rate on the long term debt is 4,65% 165 465 465 Interest is incurred on the principal balance outstanding each month. 63 February will be pald March: Interest is pald on a quarterly basis. Interest for December 64 made on the long-term debt until September of 2019. No principal payments are scheduled to 66 $10,000 $10,000 67 The Company's Board of Directors plans declare a dividend on March 20. It will be paid April 15 68 69 70 Income Tax rate 21.00 % Accrued taxes for the three previous months are paid on the 15th o January, April, July and October 72 73 74 75 76 77 Budget Planning Decument Dec 2018 Balarce Sheet A. Purchase Seale Budort gee eeme ScatementD.Budgened Baance S I40oN werage Sum gish (USA) Activities LibreOffice Calc 20.2 C Jun 14 18127103 vbedi_mod6_excel.xisx- LibreOffice Calc File Fdit View Insert Farmat Styles Sheet Data Tacls Wincow Help abs AL : F A BIU A = % 74 00 00* - Calibri 11 fx i Dividends Pavable A36 D G H N P Milk For Kids, Ltd 7 A BALANCE SHEET 8 December 31, 2018 9 10 ASSETS 11 12 Current Assets for Cash 303,200 unts Receivable 75.466 15 Inventory 1,220 509,136 Prepaid Insurance 16 17 Total Current Assets 18 19 Property Plant and Equipment Office Equipment 20 304,800 reciation 22 Total Property Plant and Equipment 23 24 Total Assets $ 752,976 25 26 LIABILITIES AND SHAREHOLDERS EQUITY 27 28 LIABILITIES t Liabilities Cu Accounts Payable Purchases 30 36,627 Sales Commisslon Payable Selling and Admin Pavable 4,700 31 3.525 32 Interest Payable 465 33 Marketing Payable 5,280 34 35 Income Taxes Payable Dividends Payable 15.320 36 37 Total Current Linhllities 65.917 +Budget Planning Document Dec 2018 Balance Sheet A. Purchase Budgeted Income Statement D.Budgeted Balance Sh ce Sheet Shee 2 of 340% werage Sum aish (USA) Activities LibreOffice Calc 20.2 C Jun 14 18:27:10 vbedi_mod6_excel.xisx - LibreOffice Cale File Fdit View Insert Farmat Styles Sheet Data Tacls Wincow Help abs AL : E A A % 74 00 00 BIU Calibri 11 fx I= A52 G H 23 A 24 Total Assets S 752,976 25 26 LIABILITIES AND SHAREHOLDERS EQUITY 27 for LIABILITIES 28 29 Current Liabilities 36,627 ses Sales Commission Pavable 31 Selling and Admin Payable Interest Payable Marketing Payable Income Taxes Payable 3.525 32 465 33 5.280 34 15.320 35 Dividends Payable Total Current Liabilities 36 65,917 120.000 39 Long Term Debt 40 41 Total Liabilities 185,917 42 SHAREHOLDERS' EQUITY 43 Common Stock 104,000 ** Retained Earnings 463,059 AC 47 Total Shareholders' Equity 567,059 48 49 Total Liabilities and Shareholders Equity $ 752,976 50 53 Budget Planning Decument Dec 2018 Balance Sheet A. Purchase Budgeted Income Statement D.Budgeted Balance Sh 340% warage; Sum gish (USM Activities LibreOffice Calc 20 C Jun 14 18:27:50 vbedi_mod6_excel.xisx - LibreOffice Calc File Fdit View Insert Farmat Styles Sheet Data Tacls Wincow Help A BI U A - = % 74 00 00 Calibri 11 fx Check figures arc: January Budgcted Purchase for Next Manth Salcs $113,088; March Inventory Nceded to be Available during Current Month $175,262 Als G C F M 1 A 2 2 4 for 5 5 Check figures are: January Budgeted Purchase for Next Month Sales = $113,088; March Inventory Needed to be 7Available during Current Month = $175,262. Milk For Kids, Ltd PURCHASES BUDGET 10 PLANNING FOR 2019 11 12 13 Solution: Actual Budgeted January $ 77,574 Budgeted February Budgeted Dec 2018 March 14 $ 75,466 15 Desired Ending Inventory Balance for Current Month 16Current Month's Cost of Sales 17 Inventory Needed to be Available during Current Month 68,721 74,202 145,700 114,080 110,980 101,060 182,801 221,166 188,554 175,262 18 Less: Beginning Inventory of Current Month 19 Budgeted Purchase for Next Month Sales 99,076 75,466 77,574 68,721 $113,088 $122,090 105,226 106,541 20 21 22 23 24 ed Ihcome Statem ent D. Budpeted Balance Sheet Budget Planning Document Dec 2018 Bajace Sheet A Purchases Budget Enalsh U5A Averace Sum 0 Raetvie A chases Budgst Stew 3 of 6 Activities LibreOffice Calc 20 C Jun 14 18:28:27 vbedi mod6,excel.xlsx-LibreOffice Calc File Fdit View Insert Farmat Styles Sheet Data Tacls Wincow Help abs AL 2:& E A A = % 74 00 00 Calibri BIU 10 f, : A45 D 1,220 G 23 Insurance Expense 1,220 1,220 A 24 Selling & Administrative Expense 21,300 24,060 23,745 25 Depreciation Expense 5,080 5,080 5,080 26 Total Other Operating Expenses 36,599 39,514 38,548 for 27 30,406 28 Operating Income 31,421 23,392 29 30 Other Income (Expense) 31 Interest Expense 465 465 465 32 33 Income Before Income Tax 30,956 29.941 22,927 34 35 Income Tax Expense 6,501 6,288 4,815 36 37 Net Income $ 18,112 24,455 23,653 38 39 40 41 42 43 44 45 A. Purchses SR D.Budgeted Balance Sheet Budget Flanning Decument Dec 2018 Baarce Sheet Statement English (USA Aerage Sum Activities LibreOffice Calc 20 C Jun 14 18:29:05 vbedi_mod6_excel.xisx - LibreOffice Calc Data Tacls Wincow Help File Fdit View Insert Farmat Styles Sheet A E 3 BIUA Calibri 11 fy Check fiqures arc: January Cash Reccipts $209,800; February Cash Disbursements $155,825 March Ending Cash Balance $405,496. Als C G B H 1 A 4 for 5 6Check figures are: January Cash Receipts $209,800; February Cash Disbursements = 7 $155,825; March Ending Cash Balance = $405,496 8 9 Solution: Milk For Kids, Ltd 10 PLANNED CASH TRANSACTIONS and CASH BUDGET 11 For the Month Ending, 12 13 Jan 31, 2019 Feb 28, 2019 Mar 31, 2019 14 15 Beginning of Month Cash Balance 16 CASH IN 17 18 45% This Month's Sales 80,550 82,800 73,350 19 55% of Last Month's Sales 129,250 101,200 98,450 20 21 Total Cash Receipts for Month 209,800 174,550 181,250 22 23 Total Cash Available During Month A.Purchases dgl D. Budgeted Balace Sheet Budget Planing Document Budgeted rceme Satement Dec 2018 Balace Sheet CbBdost Englis USA Average Sam: 0 Activities LibreOffice Calc 20 C Jun 14 18:29:15 vbedi mod6,excel.xlsx-LibreOffice Calc File Edit View Insert Farmat Styles Sheet Data Tacls Wincow Help- abs AL : A 9% 74 00 00 - BIU Calibri 11 f I Income Tax A33 C D G H N 1 A 2 4 for 6 Check figures are: January Cash Receipts $209, 800; February Cash Disbursements = 7 $155,825; March Ending Cash Balance = $405,496 8 9 Solution: Milk For Kids, Ltd 10 PLANNED CASH TRANSACTIONS and CASH BUDGET 11 For the Month Ending, 12 13 Jan 31, 2019 Feb 28, 2019 Mar 31, 2019 14 CASH OUT 25 26 30% Last Month's Purchases 36,627 33,927 31,568 27 70% This Month's Purchases 79,162 73,658 74,579 28 Marketing 29 Commissions 5,419 5,960 5,243 4,700 3,580 3,680 30 Selling & Administrative 21,300 24,060 23,745 31 Insurance 14,640 32 Interest 1,395 33 Income Tax 15,320 d. A. Parchases g D. Budpeted Bala ce Sheet Dec 2018 Baarce Sheet Budgeted Icome seatement Budget Planning Document 38oN Englip USA ubdoct erage Sam: 0 Shee 4 of G Activities LibreOffice Calc 20 C Jun 14 18:29:29 vbedi mod6excel.xlsx-LibreOffice Calc File Fdit View Insert Farmat Styles Sheet Data Tacls Wincow Help abs AL : A 9% 74 00 00 - BIUA Calibri 11 fx I A35 End of Month Cash Balance- C D G H N 1 A 4 for 6 Check figures are: January Cash Receipts $209, 800; February Cash Disbursements = 7$155,825; March Ending Cash Balance $405,496 8 9 Solution: Milk For Kids, Ltd 10 PLANNED CASH TRANSACTIONS and CASH BUDGET 11 For the Month Ending, 12 13 Jan 31, 2019 Feb 28, 2019 Mar 31, 2019 14 30 Selling & Administrative 21,300 24,060 23,745 31 Insurance 14,640 32 Interest 1,395 33 Income Tax 15,320 34 Dividends 35 36 Total Cash Disbursements for Month 162,528 155,825 140,209 37 38 End of Month Cash Balance 328,625 405,496 350,472 A.Purchases g Budget Planning Decument Dec 2018 Balarce Sheet Budgeted rceme Statement D. Budgeted Balace Sheet CbBdoct Shee 4 6 Englis USA Average Sam: 0