I need help to prepare a income statement, balance sheet, and cash flow statement for this Cash Budgeting Scenario.

Review the Cash Budgeting Scenario to Calculate the cash budget using the Cash Budget Worksheet, and use the Cash Budget Worksheet Answers to review your work.

All sales are credit sales, with 20% of sales collected in the month of sales, 60% collected in the month following sales, 15% collected in the second month following the sale, and the remaining 5% written off as bad debt losses in the sixth month following the sale. Raw materials purchased each month are 75% of the next months sales. Payment for raw materials is made during the month after the purchase. The company is required to maintain a minimum balance of $5,000 in the checking account, and the balance on April 1^st is $6,000. Rent, insurance, and other expenses are $1,000 per month.

Sales and wage data are as follows:

ACTUAL

	Sales	Wages
February	$ 30,000	$ 3,000
March	$ 30,000	$ 3,000

ESTIMATED

	Sales	Wages
April	$ 30,000	$ 3,000
May	$ 40,000	$ 4,000
June	$ 50,000	$ 5,000
July	$ 60,000	$ 6,000
August	$ 50,000	$ 5,000
September	$ 40,000	$ 4,000

Business Cash Budget For Jul-2009 through Jun-2010 Aug Sep Oct Nov Dec Jan Feb MaApr May Jun Total 5528 Is895 |s889 |3939 |se52 :S927 :392) |5909 |$977 3927 141 cash balance 150 101 155 Cash fom operatons 114 109 $1,111 109 089 100 100 Total Avwilable Cash 113 s108 02 14 :S125 128 $119 $123 1392 113 $2.193 $184 $180 $188 $171 $157 $188 $18 190 187 $188 199 $185 Cash Balance (Defiait) Add 5875 5925 Total Addit ors $920 $909 $827 $917 Cash Balanc $891 3928 895 $889 93 $952