I am looking for assistance in completing the remaining parts of the attachments, including the missing depreciation calculation. I will attach the completed work, as I believe that is needed for the remaining answers.

[The following information applies to the questions displayed below. ] Near the end of 2015, the management of Dimsdale Sports Co., a merchandising company, prepared the following estimated balance sheet for December 31, 2015. DIMSDALE SPORTS COMPANY Estimated Balance Sheet December 31, 2015 Assets Cash $ 36,500 Accounts receivable 520,000 Inventory 95,000 Total current assets $ 651,500 Equipment $ 540,000 Less accumulated depreciation 67,500 Equipment, net 472.500 Total assets $ 1,124,000 Liabilities and Equity Accounts payable $ 370,000 Bank loan payable 14,000 Taxes payable (due 3/15/2016) 90,000 Total liabilities $ 474,000 Common stock 472,000 Retained earnings 178,000 Total stockholders' equity 650,000 Total liabilities and equity 3; 1,124,000 To prepare a master budget for January. February. and March of 2016, management gathers the following information. a. Dimsdale Sports' single product is purchased for $20 per unit and resold for $53 per unit. The expected inventory level of 4.750 units on December 31, 2015, is more than management's desired level for 2016, which is 20% of the next month's expected sales (in units). Expected sales are: January, 7,250 units; February, 9,250 units; March, 11,000 units; and April, 10,500 units. b. Cash sales and credit sales represent 20% and 80%, respectively, of total sales. 0f the credit sales, 65% is collected in the first month after the month of sale and 35% in the second month after the month of sale. For the December 31, 2015, accounts receivable balance, $125,000 is collected in January and the remaining $395,000 is collected in February. c. Merchandise purchases are paid for as follows: 20% in the first month after the month of purchase and 80% in the second month after the month of purchase. For the December 31, 2015, accounts payable balance, $75,000 is paid in January and the remaining $295,000 is paid in February. d. Sales commissions equal to 20% of sales are paid each month. Sales salaries (excluding commissions) are $90,000 per year. 6. General and administrative salaries are $156,000 per year. Maintenance expense equals $1,900 per month and is paid in cash. f. Equipment reported in the December 31, 2015, balance sheet was purchased in January 2015. It is being depreciated over eight years under the straight-line method with no salvage value. The following amounts for new equipment purchases are planned in the coming quarter: January, $37,000; February, $97,000; and March, $28,500. This equipment will be depreciated under the straight-line method over eight years with no salvage value. A full month's depreciation is taken for the month in which equipment is purchased. 9. The company plans to acquire land at the end of March at a cost of $140,000, which will be paid with cash on the last day of the month. h. Dimsdale Sports has a working arrangement with its bank to obtain additional loans as needed. The interest rate is 12% per year, and interest is paid at each month-end based on the beginning balance. Partial or full payments on these loans can be made on the last day of the month. The company has agreed to maintain a minimum ending cash balance of $12,960 in each month. i. The income tax rate for the company is 35%. Income taxes on the rst quarter's income will not be paid until April 15. \fProblem 20-8AA Part 2 2. Monthly merchandise purchases budgets. Next month's budgeted sales (units) Ratio of inventory to future sales Budgeted ending inventory (units) Budgeted units sales for month Required units of available merchandise Beginning inventory (units) Units to be purchased 9,100 11,450 13,100 4,750 1,850 2,200 Budgeted cost per unit Budgeted merchandise purchases 4,350 9,600 10,900 24,850 $ 20 $ 20 $ 20 $ 20 $ 87,000 $ 192,000 $ 218,000 $ 497,000 Problem 20-8AA Part 3 3. Monthly selling expense budgets. Budgeted sales is 384,250 $ 490,250 $ 583,000 _ Sales commissions 76.850 98.050 116,600 $ 291,500 Sales salaries 7.500 7,500 7,500 22,500 Total selling expenses $ 84,350 $ 105,550 $ 124,100 $ 314,000 Problem 20-8AA Part 4 4. Monthly general and administrative expense budgets. Equipment - beginning of month $ 540,000 $ Equipment purchases 37,000 Equipment - end of month 577,000 $ Monthly depreciation expense Salaries expense 13,000 Maintenance expense 1,900 Total 14,900 $ 577,000 $ 97,000 674,000 $ 13.000 1.900 14,900 $ 674,000 28,500 702,500 13.000 1.900 14,900 $ 39.000 5,700 44,700 Problem 20-8AA Part 5 5. Monthly capital expenditures budgets. Equipment purchases $ 37,000 $ 97,000 $ 28,500 $ 162,500 Land purchase _ 140,000 140,000 Total $ 37,000 $ 97,000 $ 168,500 $ 302,500 '99 Beginning cash balance Cash receipts from customers Total cash available Cash disbursements: Sales commissions 76,850 98,050 166,600 Payments for merchandise General & administrative salaries 13.000 13,000 13,000 Interest on bank loan Taxes payable 90,000 Total cash disbursements 89,850 111,050 269,600 Preliminary cash balance Additional loan (loan repayment} Ending cash balance Loan balance - Beginning of month Additional loan (loan repayment) Loan balance - End of month Calculation of Cash receipts from customers: Sales in units Selling price per unit Total budgeted sales Cash sales 20% Sales on credit 80% Accounts Receivable - January $ 1 Credit sales from: 520,000 $ 125,000 $ 395,000 January Febmary March Total collection of receivables $ 125,000 $ 395,000 Collections of receivables ___ Calculation of payments for merchandise: Desired ending inventory (units) Budgeted sales in units Total units required ___ Beginning inventory (units) Number of units to be purchased Total cost of purchases Accounts Payable - January1 $ 370,000 $ 75,000 $ 295,000 January ___- March Total cash paid for merchandise --- $ Problem 20-8AA Part 7 7. Budgeted income statement for the entire rst quarter (not for each month).