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Vernon, Inc. sels fireworks. The compory's marketing director developed the following cost of goods sold budget for April, May, June. and July. Vernon had a beginning invertory balance of $3.300 on April 1 and a beginning baiance in accounts payable of \$15.700. The compary desires to maintain an ending inventory balance equal to 15 percent of the next pendods cost of goods sold. Vernon makes a. purchases on account. The company pays 60 percent of accounts payable in the month of purchase and the remaining 40 percerit in the month following purchase. Requled a. Prepate an inwentory purchases budget for Apri, May. and June b. Determine the amount of ending inventory Vernon wil report on the ond-of-quarter pro forma balance sheet. c. Pregare a schedule of cash payments for inventory for Apric, May, and June d. Determine the balance in accounts payable Vernon wil feport on the end-of-quarter pro forma baiance sheet