Im stuck! Can someone please tell me what equations to use and where to pull information from on previous budgets/statements? Also, why is the quarterly amount wrong on the merchandise purchse budget?

The following data relate to the operations of Shilow Company, a wholesale distributor of consumer goods: Current assets as of March 31: Cash Accounts receivable Inventory Building and equipment, net Accounts payable Common stock Retained earnings $ 7,700 $ 20,800 $ 40.800 $ 129,600 $ 24,300 $ 150,000 $ 24,600 a. The gross margin is 25% of sales. b. Actual and budgeted sales data: March (actual) April May June July $ $ $ $ $ 52,000 68,000 73,000 98,000 49,000 c. Sales are 60% for cash and 40% on credit. Credit sales are collected in the month following sale. The accounts receivable at March 31 are a result of March credit sales. d. Each month's ending inventory should equal 80% of the following month's budgeted cost of goods sold. e. One-half of a month's inventory purchases is paid for in the month of purchase, the other half is paid for in the following month. The accounts payable at March 31 are the result of March purchases of inventory. f. Monthly expenses are as follows: commissions, 12% of sales, rent, $2,500 per month; other expenses (excluding depreciation), 6% of sales. Assume that these expenses are paid monthly. Depreciation is $972 per month (includes depreciation on new assets). g. Equipment costing $1,700 will be purchased for cash in April. h. Management would like to maintain a minimum cash balance of at least $4.000 at the end of each month. The company has an agreement with a local bank that allows the company to borrow in increments of $1,000 at the beginning of each month, up to a total loan balance of $20,000. The interest rate on these loans is 1% per month and for simplicity we will assume that interest is not compounded. The company would, as far as it is able, repay the loan plus accumulated interest at the end of the quarter. Schedule of Expected Cash Collections April May June Cash sales $ 40.800 $ 43,800 $ 58,800 Crect sales Quarter S 143400 77 200 5 220.600 20.800 27 200 29 200 Total collections 561.600 $ 71,000 $ 88,000 Merchandise Purchases Budget April May June Quarter Budgeted cost of goods sold $ 51,000 $54,750 $ 73,500 $ 179,250 Add desired ending merchandise inventory 43,800 58,800 29,400 132,000 Total needs 94,800 113,550 102,900 311,250 Less beginning merchandise inventory 40.800 43,800 58,800 143,400 Required purchases $ 54,000 $69.750 $ 44,100 $ 167,850 Budgeted cost of goods sold for April = $68,000 sales * 75% = $51,000. Add desired ending inventory for April = $54,750 x 80% = $43,800. Schedule of Expected Cash Disbursements-Merchandise Purchases April May June Quarter March purchases $ 24,300 S 24,300 April purchases 27,000 27,000 54,000 May purchases 34,875 34.875 June purchases 22,050 22,050 Total disbursements $ 51,300 $61.875 $ 56.925 $ 100,350 Shilow Company Cash Budget April May $ 7,700 $ 1,560 June Quarter Beginning cash balance Add collections from customers 61,600 69,300 Total cash available 1,560 0 0 51,300 14,740 1,700 Less cash disbursements: For inventory For expenses For equipment Total cash disbursements Excess (deficiency) of cash available over disbursements Financing: Borrowings Repayments 67,740 0 0 0 1,560 1,560 0 0 Interest 0 0 0 Total financing Ending cash balance 69 1,560 $ 1,560 $ 0 $ 0 Income Statement For the Quarter Ended June 30 Cost of goods sold: 0 0 0 Selling and administrative expenses: 0 0 0 0 June 30 Assets Current assets: Total current assets 0 Total assets 0 Liabilities and Stockholders' Equity Stockholders' equity: 0 Total liabilities and stockholders' equity $ 0