i got requirement 1 correct so that answer is not needed. only 2A-B, 3 & 4

thank you

Beech Corporation is a merchandising company that is preparing a master budget for the third quarter of the calendar year. The company's balance sheet as of June 30th is shown below: Beech Corporation Balance Sheet June 30 Assets Cash Accounts receivable Inventory Plant and equipment, net of depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total liabilities and stockholders' equity $ 85,000 141,000 83,250 226,000 $ 535,250 $ 87,000 350,000 98,250 $ 535,250 Beech's managers have made the following additional assumptions and estimates: 1. Estimated sales for July, August, September, and October will be $370.000, $390,000 $380,000, and $400,000, respectively. 2. All sales are on credit and all credit sales are collected. Each month's credit sales are collected 35% in the month of sale and 65% in the month following the sale. All of the accounts receivable at June 30 will be collected in July 3. Each month's ending inventory must equal 30% of the cost of next month's sales. The cost of goods sold is 75% of sales. The company pays for 40% of its merchandise purchases in the month of the purchase and the remaining 60% in the month following the muhase All of the accounts payable at June 30 will be paid in July Beech's managers have made the following additional assumptions and estimates: 1 Estimated sales for July, August September, and October will be $370.000, $390,000 $380,000, and $400,000, respectively. 2. All sales are on credit and all credit sales are collected. Each month's credit sales are collected 35% in the month of sale and 65% in the month following the sale. All of the accounts receivable at June 30 will be collected in July 3. Each month's ending inventory must equal 30% of the cost of next month's sales. The cost of goods sold is 75% of sales. The company pays for 40% of its merchandise purchases in the month of the purchase and the remaining 60% in the month following the purchase. All of the accounts payable at June 30 will be paid in July 4. Monthly selling and administrative expenses are always $50,000. Each month $7,000 of this total amount is depreciation expense and the remaining $43,000 relates to expenses that are paid in the month they are incurred. 5. The company does not plan to borrow money or pay or declare dividends during the quarter ended September 30. The company does not plan to issue any common stock or repurchase its own stock during the quarter ended September 30. Required: 1. Prepare a schedule of expected cash collections for July, August, and September 2-a. Prepare a merchandise purchases budget for July, August, and September. Also compute total merchandise purchases for the quarter ended September 30. 2-b. Prepare a schedule of expected cash disbursements for merchandise purchases for July, August, and September 3. Prepare an income statement that computes net operating income for the quarter ended September 30, 4. Prepare a balance sheet as of September 30. Req 1 Reg 2A Reg 2B Req3 Req 4 Prepare a merchandise purchases budget for July, August, and September. Also compute total merchandise purchases for the quarter ended September 30. Merchandise Purchases Budget July August September Budgeted cost of goods sold $ 222,000 $ 234,000 $ 228,000 Add: Desired ending merchandise inventory [ 70,200 | 68,400 72,000 Total needs 292,200 302,400 300,000 Less: Beginning merchandise inventory 83,2501 70,2001 68,400 Required purchases $ 208,950 $ 232,200 $ 231,600 Quarter $ 684,000 72,000 894,600 83,250 $ 672.750 Req1 Reg 28 > Complete this question by entering your answers in the tabs below. Reg 1 Req 2A Req 2B Req3 Req 4 Prepare a schedule of expected cash disbursements for merchandise purchases for July, August, and September Schedule of Cash Disbursements for Purchases July August September From accounts payable [ $ 87,000 From July purchases 83,580 125,370 From August purchases 92,880 139,320 From September purchases 92,640 Total cash disbursements $ 170,580 $ 218,250 $ 231,960 Quarter $ 87,000 208,950 92,640 $ 620,790 Reg 1 Reg 2A Req 2B Req3 Req 4 Prepare an income statement that computes net operating income for the quarter ended September Beech Corporation Income Statement For the Quarter Ended September 30 Sales $ 1,140,000 Cost of goods sold 684,000 Gross margin 456,000 Selling and administrative expenses 150,000 Net operating income 306,000