Inc. sells computer network equipment. The early part of the year turned out to be highly profitable for CNE with record breaking sales from January through March. Exhibit A on page $3$ shows the breakout of the number of units sold to CNE$$s primary customers including when each customer purchased the product, when the order was shipped, the number of units purchased and the price per unit. To help expedite sales CNE offered $1/15,$ n$/30$ credit terms to all of its customers. Integrative Design took advantage of these credit terms with Integrative Design paying within $10$ days after the ship date of its product. Acore paid for its purchase $35$ days after the ship date of its product. While Xplex paid $50\%$ of the order amount at the time it ordered its products and planned on paying the remaining $50\%$ of its order $45$ days after the ship date of its product. Unfortunately, on April $10$th Xplex declared bankruptcy and did not pay the remaining accounts receivable balance.To generate more operating cash flow, the company decided to rely more heavily on accounts payable. In January, all purchases for raw materials were switched from a cash basis to accounts payable with $2/15$ n$/30$ terms. Exhibit B on page $3$ shows the schedule of the company$$s raw material purchases by month and when CNE paid for each purchase. To remain competitive CNE expanded its output by automating its production process. On January $1$st$,$ CNE purchased $$1,000,000$ of new robotic equipment and spent another $$300,000$ to have the equipment installed. The robotic equipment has a useful life of $7$ years. The salvage value of this equipment is estimated at $$100,000.$ As a result of automating its production process, CNE was able to reduce its direct labor cost down to $$85$ dollars per unit.CNE financed this new equipment purchase through a combination of debt and equity. On January $1$st$,$ CNE received a $$800,000$ loan from a commercial bank at $5\%$ interest. Starting on February $1$st principal and interest payments of $$11,700$ are to be paid on a monthly basis over $7$ years. Also, in January CNE issued $$750,000$ of common stock. In this offering, $100,000$ shares were issued at a par value of $$3$ per share. As the first quarter came to a close profits were at a record high. CNE declared a cash and stock dividend in the month of March. The cash dividend was set at $$\mathrm{.}75$ cents per share and the stock dividend was set at $7\%$ of total outstanding stock with a par value of $$1\mathrm{.}50$ per share. Total outstanding stock at the end of March was $150,000$ shares. The dividends were distributed in April. The stock was trading at $$8\mathrm{.}50$ per share at the time the dividends were declared and distributed. Additional Assumptions: $1.$ Assume the depreciation for the capital equipment starts on January $1$st$\mathrm{.}2.$ All units are manufactured in the same month as the raw material purchase$\mathrm{.}3.$ Direct Labor is paid for in cash at the end of each month.How much revenue did CNE Inc. record in the month of April?

$2.$

For the month of March, how much additional accounts receivable did CNE Inc. add to its balance sheet?

$3.$

Assuming that the accounts receivable balance was zero at the end of January what was the ending accounts receivable balance at the end of April?

$4.$

How much did CNE Inc. record to its cash account in February for the sale of its product?

$5.$

Using the Last$-$In$,$ First$-$Out $($LIFO$)$ method, how much Cost of Goods Sold did CNE Inc. record for the month of March?

$6.$

Again, assuming LIFO, if the inventory balance at the end of January was $$77,000$ what was the inventory balance at the end of April?

$7.$

What is the total depreciable amount of CNE Inc's. new capital equipment at the time of its purchase on January $1$st$?$

$8.$

What will be the depreciation expense that CNE Inc. will record for all of year $3$ using the "Double Declining" method?

$9.$

Again, using the "Double Declining" method, what will be the ending depreciable balance amount of this capital equipment at the end of year $4?$