if someone could help me fill these in and explain that would help a bunch. idk how to use excel to well

i managed to figure everything out except rhe Budgeted balance sheet and the budgeted income statement.

Acct 205: Managerial Accounting Budget Spreadsheet Assignment (SLO #2 Assessment) Xcel CASE 1-30 Master Budget with Supporting Schedules .02. LOL. LOR LOR. L0491 You have just been hired as a new management Trainee by Ears Unlimited, a distributor of earings to various retail outlets located in shopping malis 2008 The country in the past the company has done very little in the way of budgeting and at certain times of the year has eigenenced a shortage of cash Since you are well trained in budgeting, you have decided to prepare comprehensive budgets for the upcoming second quarter in order to show management the benefits that can be gained from an integrated budgeting program. To this end, you have worked with accounting and other areas to gather the information assembled below The company's many styles of earning but are sold for the same price-510 per par. Actus sales of caring for the last three months and budgeted sales for the neat six months follow in pairs of caring January (actual February (actual) March actual Apr budget May (budget 20,000 Jure budget 26.000 budget 40.000 August udget 85.000 September tudo 100.000 50.000 30.000 28.000 25.000 The concentration of sales before and during May is cete Mother's Day. Sufficient inventory should be on hand at the end of each month to supply of the carings sold in the following on Suppliers are paid $4 for a pair of earnings. One half of a month's purchases is paid for in the month of purchase the other half is paid for in the following month sales are on crest with no discount, and payable within 15 days. The company has found, however, at 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 folowing sale. Bas dos hare been negligible Mentey operating expenses for the company we gwin bol Variable Sales con Fred Avering Rent Salas 5200.000 $18.000 $106.000 57.000 39.000 Instance Depreciation 55.000 Insurance is paid on an annual basis, in November of each year The company plans to purchase $16.000 in new equipment in May and $40.000 in new equipment during June, both purchases will be forces. The company residence of $15.000 each quarter payable the first month of the following quarter A listing of the company ledger accounts of March 31agven below D Dashboard Calendar To Do Notifications Inbox Depreciation $14.000 Insurance is paid on an annual basis, in November of each year. The company plans to purchase $15,000 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 folowing quarter Alsting of the company's ledget accounts as of March 31 is given below Assets Cash $74.000 Accounts receivable $26.000 February sales $300,000 March 346.000 Inventory 104000 Prepaid insurance 21.000 Property and equipment in 950.000 Totalt Lisbots and Stockholders' Equity Accounts payable Dividends payable Capitalok Retained earning Tot and stockholdendeuty $100,000 15.000 800.000 580.000 $1405.000 The company maintains a minimum cash balance of $50.000 Alborowing 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 bomo increments of $1,000 at the beginning of each month. The interest rate on these loans is 1% per month and for simplicity we wil astume that were is not compounded. At the end of the gate the company would pay the bark al of the accumulated rest on the loan and as much of the loan as possible on increments of $1.000) while still retaining at least 550.000 in cash. Required Propero a master bogget for the three month period ending June 30. dude se tokowing detailed 1 a. A sales budge, by month and in tot b. A schedule of expected cash collections from sales, by month and not A merchandise purchases budget in unts and in dotor Show the budget by month and d. A schedule of expected cash disbursements for merchandise purchases, by month and in Sot 2. A cash budget Show the budget by month and in too. Determine any bonowing that would be needed to maintain the minimum cash balance of $50.000 3. A budgeted income statement for the three month period ending Ane 30. Use the contribution approach 4. A budgeted balance sheet as of June 30. EARRINGS UNLIMITED Budgets April May June Quarter Requirement 1a. Sales budget: Budgeted sales in units Selling price per unit Total sales Requirement 1b. Schedule of expected cash collections: February sales March sales April sales May sales June sales Total cash collections Requirement 1c. Merchandise purchases budget: Budgeted unit sales Add desired ending inventory Total needs Less beginning inventory Required purchases in units Unit cost Required dollar purchases Requirement 1d. Budgeted cash disbursements for merchandise purchases: Accounts payable April purchases May purchases June purchases Total cash disbursements Requirement 2: EARRINGS UNLIMITED Cash Budget For the Three Months Ending June 30 April May June Quarter Cash balance, beginning Add receipts from customers Total cash available Less disbursements: Merchandise purchases Advertising Rent Salaries Commissions (4% of sales) Utilities Equipment purchases Dividends paid Total disbursements Excess (deficiency) of receipts over disbursements Financing: Borrowings Repayments Interest Total financing Cash balance, ending Requirement 3: EARRINGS UNLIMITED Budgeted Income Statement For the Three Months Ending June 30 Sales in units Sales Variable expenses: Cost of goods sold Commissions Contribution margin Fixed expenses: Advertising Rent Salaries Utilities Insurance Depreciation Net operating income Less interest expense Net income EARRINGS UNLIMITED Budgeted Balance Sheet June 30 Assets Cash Accounts receivable Inventory Prepaid insurance Property and equipment, net Total assets Liabilities and Equity Accounts payable, purchases Dividends payable Capital stock, no par Retained earnings Total liabilities and equity Accounts receivable at June 30: May sales June sales Total Retained earnings at June 30: Balance, March 31 Add net income Total Less dividends declared Balance, June 30 12:15