I'm currently stuck on these questions, could someone explain it to me?

12 ... #14 - louisleonha... f Facebook M Inbox (14) - iruzh... W HiJinto Start Developing i... Grammarly ework i Saved Required information [The following information applies to the questions displayed below.] Beech Corporation is a merchandising company that is preparing a master budget for the third quarter of the calendar year. The company's balance sheet as of June 30th is shown below: Beech Corporation Balance Sheet ces June 30 Assets Cash $ 93, 000 Accounts receivable 127, 000 Inventory 45, 000 Plant and equipment, net of depreciation 219, 000 Total assets $ 484, 000 Liabilities and Stockholders' Equity Accounts payable $ 80, 000 Common stock 330, 000 Retained earnings 74, 000 Total liabilities and stockholders' equity $ 484, 000 Beech's managers have made the following additional assumptions and estimates: 1. Estimated sales for July, August, September, and October will be $300,000, $320,000, $310,000, and $330,000, respectively. 2. All sales are on credit and all credit sales are collected. Each month's credit sales are collected 45% in the month of sale and 55% in the month following the cale All of the accounts receivable at lune 20 will he collected in lule 0 9 75%Saved Beech's managers have made the following additional assumptions and estimates: 1. Estimated sales for July, August, September, and October will be $300,000, $320,000, $310,000, and $330,000, respectively. 2. All sales are on credit and all credit sales are collected. Each month's credit sales are collected 45% in the month of sale and 55% in the month following the sale. All of the accounts receivable at June 30 will be collected in July. 3. Each month's ending inventory must equal 15% of the cost of next month's sales. The cost of goods sold is 60% of sales. The company pays for 30% of its merchandise purchases in the month of the purchase and the remaining 70% in the month following the purchase. All of the accounts payable at June 30 will be paid in July. 4. Monthly selling and administrative expenses are always $56,000. Each month $6,000 of this total amount is depreciation expense and the remaining $50,000 relates to expenses that are paid in the month they are incurred. 5. The company does not plan to borrow money or pay or declare dividends during the quarter ended September 30. The company does not plan to issue any common stock or repurchase its own stock during the quarter ended September 30. Required: 1. Prepare a schedule of expected cash collections for July, August, and September. Also compute total cash collections for the quarter ended September 30. 2-a. Prepare a merchandise purchases budget for July, August, and September. Also compute total merchandise purchases for the quarter ended September 30. 2-b. Prepare a schedule of expected cash disbursements for merchandise purchases for July, August, and September. Also compute total cash disbursements for merchandise purchases for the quarter ended September 30. 3. Prepare an income statement for the quarter ended September 30. 4. Prepare a balance sheet as of September 30. Complete this question by entering your answers in the tabs below. M 75%- w. . . Required information 3. Prepare an income statement for the quarter ended September 30. 4. Prepare a balance sheet as of September 30. Complete this question by entering your answers in the tabs below. Book Print Req 1 Req 2A Req 2B Req 3 Req 4 rences Prepare a merchandise purchases budget for July, August, and September. Also compute total merchandise purchases for th quarter ended September 30. Merchandise Purchases Budget July August September Quarter Budgeted cost of goods sold 180,000 $ 192,000 $ 186,000 Add: Desired ending merchandise inventory 42,000 46,500 49,500 Total needs 228,000 238,500 235,500 Less: Beginning merchandise inventory 45,000 48,000 46.500 Required purchases 183,000 $ 190,500 $ 189,000 aw 93. Prepare an income statement for the quarter ended September 30. 4. Prepare a balance sheet as of September 30. Complete this question by entering your answers in the tabs below. Req 1 Req 2A Req 2B Req 3 Reg 4 Prepare a schedule of expected cash disbursements for merchandise purchases for July, August, and September. Also co total cash disbursements for merchandise purchases for the quarter ended September 30. Schedule of Cash Disbursements for Purchases July August September Quarter From accounts payable $ 0 From July purchases 0 From August purchases 0 From September purchases 0 Total cash disbursements o $ o $ O $ 0 9September 30. points Complete this question by entering your answers in the tabs below. eBook Print Req 1 Req 2A Req 2B Req 3 keq 4 References Prepare a balance sheet as of September 30. Beech Corporation Balance Sheet September 30 Assets Cash 429,680 Accounts receivable 170,500 Inventory 49,500 Plant and equipment, net 201,000 Total assets $ 850,680 Liabilities and Stockholders' Equity Arrnunts navahle $ 132 300 Mc Graw Hill