if you are writing the answers on a paper and you scan it after I would really appreciate it if the handwriting is clear enough to read, if possible show a step by step solution(would really appreciate it

Minden Company is a wholesale distributor of premium Eurepean chocolates. The company/s babance sheet as of April 30 is given below: The company is in process of preparing a bedget for May and has assembled the following duta: a. Sales budgeted at $200,000 for May. Of these sales, 60,000 will be for cash; the remainder will be credit sales. One-half of a month's credit saies are collected in the month the cales are made and the remainder is collected in the following month. All of the April 30 accounts receivable with be collected in May b. Purchases of imentory are expected to total $120,000 during May. These purchuses will all be on account. Forty percent of all purchases are paid for in the month of purchase, the remainder are paid in the following month. All of the April 30 actounts payable to wppliets will be puid during May. c. The May 31 inventory balance is budgeted at $40,000 d. Selling and administrative expenses for May are budgeted at $72,000, exdusive of depreciution. These expenses will be paid in cash. Depreciation is budgeted at $2,000 for the month e. The note payable on the April 30 balance sheet will be paid during Mary with $100 in interent f all the interest relates to May. 2. New refrigerating equipment costing $6,500 will be purchased for cash during May. g. During May, the company will borrow $2,000 form its bank by giving a new note poyable to the bank for that amount. The new note will be due in one year Hequired: 1. Calculate the expected cash collections for May 2. Calculate the expected cash disbursements for merchandise porchuses for Mory 3. Prepare a cash budget for may 4. Using schedule 9 as your zuide, prepare a budgeted income statemert for may 5. Prepare a budgeted balance sheet as of May 31