I need help with numbers2, 3, and 4.

Required: Prepare a master budget for the three-month period ending June 30 . Include the following delailed schedules: 1. a A sales budget, by month and in total. b. A schedule of expected cash collectionis, by month and in total. c. A merchandise purchases budget in units and in dollars. Show the budget by month and in total. d. A schedule of expected cash distursements for merchandise purchases, by month and in total. 2. A cash budget. Show the budget by month and in total. Determine any borrowing that would be needed to maintain the minimum cash balance of $50,000. 3. A budgeted income statement for the three month perlod ending June 30. Use the contribution approach. 4. A budgeted balance sheet as of June 30 . ou have just been hired as a new management trainee by Earrings Unlimited. a distributor of earrings to various retall outlets located i shopping malis across the country. In the past, the company has done very litte in the way of budgeting and at certain times of the rear has experienced a shortage of cash. Since you are well tained in budgeting. you have decided to prepare a master budget for he upcoming second quarter. To this end, you have worked with accounting and other areas to gather the information assembled below. The company sells many styles of earrings, but all are sold for the same price- $10 per palt, Actual sales of earrings for the last three months and budgeted sales for the next six months follow (in pairs of eartings): The concentration of sales before and duing May is due to Mother's Day. Sufliclent inventory should be on band at the end of each month to supply 408 of the earings sold in the following month. Suppliers are pald $4 for a pair of earrings. One hall of a month's purchases is paid for in the month of purchase: the other half is paid for in the following month. All sales are on credit. Only 20% of a month's sales are collected in the month of sale. An additional 70% is collected in the following month, and the remaining 10% is collected in the second month following sale. Alad debis hive been negligible. Monthly operating expenses for the company are glven below: Insurance is paid on an annual basis, in November of each year. The company plans to purchase $16,000 in new equipment during May and $40,000 in new equipment during June; both purchases will be for cash. The company declares dividends of $15.000 each quarter, payable in the first month of the following quartet. The company maintains a minimum cash balance of $50.000. All borrowing is done at the beginning of a month, any repayments are made at the end of a month. The company has an agreement with a bank that allows the company to borrow in increments of $1,000 at the beginning of each month. The interest rate on these loans is 18 per month and for simplicity we will assume that interest is not compounded. At the end of the quarter, the company would pay the bank all of the accumulated interest on the loan and as much of the loan as possible (in Increments of $1.000), while still retaining at least $50,000 in cash