I am unsure how to complete this question - I'm completely lost

Problem 5-35 Marigold Products, a rapidly growing distributor of home gardening equipment, is formulating its plans for the coming year. Carol Jones, the firms marketing director, has completed the following sales forecast. Sales Month Sales Month January February $1,004,000 August March April May June $907,500 July 1,507,500 1,507,500 $907,500 September $1,609,100 51,609,100 $1,251,000 November $1,507,500 1,400,500 December $1,703,300 1,158,500 October Phillip Smith, an accountant in the Planning and Budgeting Department, is responsible for preparing the cash flow projection. He has gathered the following information. All sales are made on credit. remaining 40% collected two months after the sale. sale and 30% during the month of sale. For example, in April, 30% of April cost of goods sold is purchased and 70% of May cost of goods sold is Marigold's excellent record in accounts receivable collection is expected to continue, with 60% of billings collected in the month after sale and the Cost of goods sold, Marigold's largest expense, is estimated to equal 40% of sales dollars. Seventy percent of inventory is purchased one month prior to purchased All purchases are made on account. Historically, 75% of accounts payable have been paid during the month of purchase, and the remaining 25% in the month following purchase. Hourly wages and fringe benefits, estimated at 30% of the current month's sales, are paid in the month incurred .General and administrative expenses are projected to be $1,566,800 for the year. A breakdown of the expenses follows. All expenditures are paid monthly throughout the year, with the exception of property taxes, which are paid in four equal installments at the end of each quarter. Salaries and fringe benefits Advertisi Property taxes Insurance Utilities 5 322,400 375,800 136,800 197,600 184,300 349,900 51,566,800 ing Total Operating income for the first quarter of the coming year is projected to be $324,300. Mangold is subject to a 40% tax rate. The company pays 100% of its estimated taxes in the month following the end of each quarter . Marigold maintains a minimum cash balance of $50,000. If the cash balance is less than $50,000 at the end of the month, the company borrows against its 1290 line of credit in order to maintain the balance. All borrowings are made at the beginning of the month, and all repayments are made at the end of the month (in increments of $1,000). Accrued interest is paid in full with each principal repayment. The projected cash balance on April 1 is $57,700 Prepare the cash receipts budget for the second quarter. (Enter answers in necessary fields only. Leave other fields blank. Do not enter 0.) Cash Receipts Budget April May June Total Cash Receipts February sales March sales April sales May sales Totals Accounts Receivable balance at the end of second quarter of 2015$