I have attached cash budget, sales, purchases, wages & commissions schedules needed to complete the income statement and balance sheet.. please complete portions highlighted in yellow..

(A) SALES SCHEDULE APRIL TO AUGUST JULY JULY JUNE MAY APRIL MARCH 92,000 552.000 115,000 138.000 184,000 115.000 Schedule 1: Sales Forecast 92.000 46,000 55.200 73,600 46,000 69,000 Credit sales, 40 % 36,800 69,000 82,800 110,400 55,200 Cash sales, 60% Schedule 2: Cash Collections 69,000 82 800 110,400 46,000 69.000 Cash sales this month 55,200 73,600 156.400 36.800 100% of last month's credit sales 124,200 156,400 105.800 Total collections (B) PURCHASES SCHEDULE APRIL TO JULY JULY JUNE MAY APRIL MARCH Schedule 3: Purchases 110,400 97,520 Ending inventory 123,280 110,400 149,040 386 400 Cost of goods sold 128,800 96,600 80,500 64,400 80.500 Total needed 207,000 178,020 174,800 229.540 252,080 Beginning inventory -97520 -23,280 -10,400 -10,400 -9,040 Purchases 77,280 119,140 103.040 83,720 67,620 Schedule 4: Purchase Disbursements 50% of last month's purchases 38,640 59,570 51,520 41.860 50% of this month's purchases 59,570 51,520 41,860 33,810 Disbursements for purchases 98,210 111,090 93,380 75,670 (C) WAGES AND COMMISSIONS SCHEDULE APRIL TO JULY MARCH APRIL MAY JUNE JULY Schedule 5: Wages and Commissions Wages, all fixed 5,750 5,750 5,750 5,750 5,750 Commissions (15% of current sales) 13,800 17.250 27.600 20.700 17,250 Total 19,550 23.000 33,350 26,450 Schedule 6: Disbursements-Wages and Commissions 23.000 105.800 50% of last month's expenses 9,775 11,500 16,675 28.175 16.675 50% of this month's expenses 13,225 11,500 13,225 Total 21.275 11,500 29.900 24,725 (D) CASH BUDGET JULY JUNE MAY APRIL 23,000 23,000 23,000 Beginning cash balance Cash receipts: 23,000 124,200 156,400 156,400 105,800 Collections from customers Total cash available for needs before financing Cash disbursements 147,200 179,400 179,400 128,800 75,670 93,380 98,210 111,090 Merchandise 24,725 28,175 29,900 Wages and commissions 21,275 5,750 5,750 9,200 6,900 Miscellaneous expenses 4,600 4,600 4,600 4,600 Rent Truck purchase 0 0 6,900 134,780 Total disbursements 136,735 153,065 110,745 Minimum cash balance desired 23,000 23,000 23,000 23,000 Total cash needed 159,735 176,065 157,780 133,745 Excess of total cash -30,935 3,335 21,620 13,455 Financing New borrowing 30,935 0 0 0 Repayments 2,871 21,199 6,865 Loan balance 30,935 28,064 6,865 0 Interest 0 464 421 103 Total effects of financing 30,935 -3,335 -21,620 -6,968 Cash balance 23,000 23,000 23,000 29,487 Shyles Cells Edtin K133 A C D F G 136 137 PDC COMPANY PROJECTED BALANCE SHEETS 138 (March is given on page 195, table 6.1) March April May July June 139 Current assets Cash 140 Cash budget 141 Accounts receivable Merchandise inventory 142 Prepaid insurance 143 Change from 1/S 144 Total current assetS sum 145 Plant Equipment, fixtures, and other 146 change from cash budget (truck) Accumulated depreciation 148 Net plant, property, and equipment 147 change from 1/s sum 149 Total assets sum 150 151 Current liabilities Sheet1 CASE 2 151 Current liabilities 152 Accounts payable Accrued wages and commissions payable 153 Cash budget 154 Loan 155 Total current liabilities 156 Owners' equity 157 Total liabilities and equity sum sum 158 MARCH Current assets 23,000 Cash 36,800 Accounts receivable 110,400 Merchandise inventory 4,140 Prepaid insurance 174,340 Total current assets Plant Equipment, fixtures, and other Accumulated depreciation Net property, plant, and equipment 85,100 -29,440 55,660 Total assets 230,000 Current liabilities Accounts payable Accrued wages and commissions payable 38,640 9,775 Loan 0 Total current liabilities 48,415 Owners' equity 181,585 Total liabilities and equity 230,000 MARCH 92,000 Sales -64,400 Cost of goods sold Gross margin Operating expenses 27,600 -19,550 Wages and commissions Rent -4,600 Miscellaneous expenses -4,600 Insurance -460 Depreciation Total operating expenses Income from operations -1,150 -30,360 -2,760 Interest expense O Net income -2,760 19440