I NEED THE FORMULAS FOR EACH SQUARE

The following data relate to the operations of Shilow Company, a wholesale distributor of consumer goods: a. The gross margin is 25% of sales. b. Actual and budgeted sales data: c. Sales are 60% for cash and 40% on credit. Credit sales are collected in the month following sale. The accounts receivable at March 31 are a result of March credit sales. d. Each month's ending inventory should equal 80% of the following month's budgeted cost of goods sold. e. One-half of a month's inventory purchases is paid for in the month of purchase; the other half is paid for in the following month. The accounts payable at March 31 are the result of March purchases of inventory. f. Monthly expenses are as follows: commissions, 12% of sales; rent, $2,500 per month; other expenses (excluding depreciation), 6% of sales. Assume that these expenses are paid monthly. Depreciation is $900 per month (includes depreciation on new assets). g. Equipment costing $1,500 will be purchased for cash in April. h. Management would like to maintain a minimum cash balance of at least $4,000 at the end of each month. The company has an agreement with a local bank that allows the company to borrow in increments of $1,000 at the beginning of each month, up to a total loan balance of $20,000. The interest rate on these loans is 1% per month and for simplicity we will assume that interest is not compounded. The company would, as far as it is able, repay the loan plus accumulated interest at the end of the quarter. Using the data provided above, use the Excel Template provided to prepare the following budget schedules: 1. Sales Budget (Merely enter the sales data provided.) 2. Schedule of Expected Cash Collections 3. Merchandise Purchases Budget 4. Schedule of Expected Cash Disbursements - Merchandise Purchases 5. Schedule of Expected Cash Disbursements - Selling and Administrative Expenses 6. Cash Budget Please note that Excel formulas or functions should be used throughout the budget wherever possible, instead of entering numbers into each cell. DeVry Student Portal Course Project Overview: Manag + iv. ACCT346 - Course Project.xlsx - EasyOffice Calc File Edit View Insert Format Styles Sheet Data Iools Window Help Calibri 11pt B IUAs=m fX= B52 \begin{tabular}{l|c|c|c} B & C & D & E \end{tabular} 1 Managerial Accounting - Course Project \begin{tabular}{|l|r|r|r|r|r|} \hline 2 & March & April & May & June & July \\ \hline 3 & & & & & \\ \hline 4 & & & & \\ \hline 5 & & & & \end{tabular} \begin{tabular}{|c|l|r|r|c|c|} \hline 13 & \multicolumn{4}{|c|}{ Merchandise Purchases Budget } \\ \hline 14 & & April & May & June & Quarter \\ \hline 15 & Budgeted Cost of Goods Sold & $45,000 & & & \\ \hline 16 & add: Desired Ending Inventory & 43,200 & & & \\ \hline 17 & Total Needs & 88,200 & & & \\ \hline 18 & less: Beginning Inventory & 36,000 & & & \\ \hline 19 & Required Purchases & $52,200 & & & \\ \hline 20 & & & & & \\ \hline \hline \end{tabular} \begin{tabular}{l} 20 \\ \hline 21 \\ \hline 22 \end{tabular} 22 Schedule of Expected Cash Disbursements - Merchandise Purchaes \begin{tabular}{|l|l|r|r|r|r|} \hline 23 & & April & May & June & \multicolumn{1}{c|}{ Quarter } \\ \hline 24 & March Purchases & $21,750 & & & $21,750 \\ \hline 25 & April Purchases & 26,100 & 26,100 & & 52,200 \\ \hline 26 & May Purchases & & & & \\ \hline 27 & June Purchases & & & & \\ \hline 28 & Total Disbursements & $47,850 & & & \\ \hline 29 & & & & & \\ \hline \hline \end{tabular} \begin{tabular}{|l|l|r|r|r|c|} \hline 30 & \multicolumn{3}{|c|}{ Schedule of Expected Cash Disbursements - Selling \& Administrative } \\ \hline 31 & & April & May & June & Quarter \\ \hline 32 & Commissions & $8,200 & & & \\ \hline 33 & Rent & 2,500 & & & \\ \hline 34 & Other Expenses & 3,600 & & & \\ \hline 35 & Total Disbursements & $313,300 & & & \\ \hline 36 & & & & & \\ \hline 37 & & & & & \\ \hline \hline \end{tabular} DeVry Student Portal Course Project Overview: Manag + iv. ACCT346 - Course Project.xlsx - EasyOffice Calc File Edit Yiew Insert Format Styles Sheet Data Iools Window Help B52 fX= \begin{tabular}{|l|c|c|c|c|c|} & A & B & C & D & E \\ \hline 35 & Total Disbursements & $13,300 & & & \\ \hline 36 & & & & & \end{tabular} Cash Budget \begin{tabular}{|l|l|r|r|r|r|} \hline 38 & & \multicolumn{1}{|c|}{ April } & May & June & Quarter \\ \hline 39 & Cash Balance Beginning & $8,000 & & & \\ \hline 40 & Add: Cash Collections & 56,000 & & & \\ \hline 41 & Total Cash Available & 64,000 & & & \\ \hline 42 & & & & & \\ \hline 43 & Less Cash Disbursements & & & & \\ \hline 44 & For Inventory & 47,850 & & & \\ \hline 45 & For Expenses & 13,300 & & & \\ \hline 46 & For Equipment & 1,500 & & & \\ \hline 47 & Total Cash Disbursements & 62,650 & & & \\ \hline 48 & Excess (deficiency) of Cash & 1,350 & & & \\ \hline 49 & Borrowing & & & & \\ \hline 50 & Repayments & & & & \\ \hline 51 & Interest Paid & & & & \\ \hline 52 & Ending Cash Balance & & & & \\ \hline 53 & & & & & \\ \hline \end{tabular}