Mary and Kay. Inc., a distributor of cosmetics throughout Florida, is in the process of assembling a has been extracted from the company's accounting records: All sales are on account. Sixty percent of customer accounts are collected in the month of sale: 30 amounting to 10 percent of sales are anticipated, and management believes that only 20 percent 0 and that the recovery will be in January 20x1. Sixty percent of the merchandise purchases are paid for in the month of purchase; the remaining 4 The December 31, 20x0. balance sheet disclosed the following selected figures: cash, $50,000; ac Mary and Kay, Inc. maintains a $50,000 minimum cash balance at all times. Financing is available borrowings taking place at the beginning of the month and repayments occurring at the end of the on the portion of principal repaid at that time. Additional data: January February March Sales revenue 460, 000 550, 000 565 , 000 Merchandise purchases 280,000 310,000 430,000 Cash operating costs 94,000 73,000 136,000 Proceeds from sale of equipment 16, 000 Required: 1. Prepare a schedule that discloses the firm's total cash collections for January through 2. Prepare a schedule that discloses the firm's total cash disbursements for January thr 3. Prepare a schedule that summarizes the firm's financing cash flows for January throu Prepare a schedule that discloses the firm's total cash collections for January through March