I would like to see the calculation please thank you

You have just been hired as a new management trainee by Esrrings Unlimited, a distributor of earrings to various retail outlets located in shopping malls across the country. In the past, the company has done very little in the way of budgeting and at certain times of the year has experienced a shortage of cash. Since you are well trained in budgeting, you have decided to prepare a master budget for the 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-516 per poir. Actual sales of earrings for the last three months and budgeted sales for the next six months follow (in psics of earrings): January (actual) 21,200 June (budget) 51,280 February (actual) 27,200 July (budget) 31,280 March (actual) 41,200 August (budget) 29,200 April (budget) 66.200 September (budget) 26,20 May (budget) 101.200 The concentration of soles before and during Mey is due to Mother's Day. Sufficient inventory should be on hand at the end of each month to supply 40% of the earrings sold in the following month. Suppliers are paid $4.60 for a pair of esrrings. One-half of a month's purchases is paid for in the month of purchase the other halfis 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 sele. Bsd debts have been negligible. Monthly operating expenses for the company are given below: 4% of sales Variable: Sales commissions Fixed: Advertising Rent Salaries Utilities Insurance Depreciation $ 260, Bee $ 24,00 $ 118,00 $ 10,000 $ 3,60 sze, Insurance is paid on an annual basis, in November of each year. The company plans to purchase $19.000 in new equipment during Msy and $45,000 in new equipment during June; both purchases will be for cash. The company declares dividends of $19.500 each quarter paysble in the first month of the following quarter. The company's balance sheet ss of March 31 is given below. $ sease Assets Cash Accounts receivable ($43,528 February sales: $S27,268 March sales) Inventory Prepaid insurance Property and cquirent (not) Total assets Liabilities and Stockholders' Equity Accounts payable Dividends payable Cornon stock Retained carnings Total liabilities and stockholders' equity 578,888 121,888 24.ee 1.810,000 $ 1,806,688 $ 186,00 19, see 920.ee 761,188 $ 1,896,683 The company maintains a minimum cash belence of $56,000. 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 esch month. The interest rate on these loans is 1% 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 loon as possible (in increments of $1,000), while still retaining at least $56,000 in cash. Prepare a master budget for the three-month period ending June 30 that includes 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 $56,000. (Cash deficiency, repayments and interest should be indicated by a minus sign.) May June Quarter 0 0 0 0 0 0 0 Earrings Unlimited Cash Budget For the Three Months Ending June 30 April Beginning cash balance $ 80,000 Add collections from customers Total cash available 80,000 Less cash disbursements: Merchandise purchases Advertising Rent Salaries Commissions Utilities Equipment purchases Dividends paid Total cash disbursements 0 Excess (deficiency) of cash available over disbursements 80,000 Financing Borrowings Repayments Interest Total financing 0 Ending cash balance $ 80,000 $ 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 $ 0 $ 0 0 Earrings Unlimited Budgeted Income Statement For the Three Months Ended June 30 Variable expenses 0 0 Fixed expenses 0 0 0 Earrings Unlimited Budgeted Balance Sheet June 30 Assets Total assets $ 0 Liabilities and Stockholders' Equity Total liabilities and stockholders' equity $ 0