Identify the order in which you would prepare the following components of the master budget. 

Arrange the following steps in order by entering 1 2 3 4 5 6 7 or 8 on the line in front of each item to indicate its order 

Cash budget 

Sales budget 

Budgeted balance sheet 

Purchases budget 

Cost of goods sold budget 

Capital expenditures budget 

Selling and administrative expenses budget 

Budgeted income statement