Key Printing Supply of Baltimore has applied for a loan. As Key Printing Supply's controller, you have Its bank has requested a budgeted income statement for assembled the following additional information April 2024 and budgeted balance sheet at April 30, 2024 (i) (Click the icon to view the information.) The March 31, 2024, balance sheet follows. (Click the icon to view the balance sheet.) Read the requirements. Requirement 1. Prepare the sales budget for April. a. April dividends of $5,500 were declared and paid b. April capital expenditures of $16,700 budgeted for cash purchase of equipment. c. April depreciation expense, $700. d. Cost of goods sold, 45% of sales. e. Desired ending inventory for April is $22,800. f. April selling and administrative expenses include salaries of $31,000,20% of which will be paid in cash and the remainder paid next month g. Additional April selling and administrative expenses also include miscellaneous expenses of 15% of sales, all paid in April. h. April budgeted sales, $86,000,60% collected in April and 40% in May. i. April cash payments of March 31 liabilities incurred for March purchases of inventory, $8,400 j. April purchases of inventory, $12,000 for cash and $37,200 on account. Half the credit purchases will be paid in April and half in May. Data table Key Printing Supply Balance Sheet March 31, 2024 Assets Current Assets Cash Property, Plant, and Equipment Equipment and Fixtures Less. Accumulated Depreciation Total Assets \begin{tabular}{rr} (12,500) & 68,600 \\ \hline & $148,100 \\ \hline \hline \end{tabular} Liabilities Current Liabilities: Accounts Payable $