Medical Supply has applied for a loan. America's Bank has requested a budgeted balance sheet as of April 30, and a combined cash budget for April. As Instrument

Medical Supply's controller, you have assembled the following information:

Data Table:

a	March 31 equipment balance,$52,200; accumulated depreciation,$41,000.
b.	April capital expenditures of $42,900 budgeted for cash purchase of equipment.
c.	April depreciation expense,$900.
d.	Cost of goods sold, 55% of sales.
e.	Other April operating expenses, including income tax, total $13,000, 30% of which will be paid in cash and the remainder accrued at April 30.
f.	March 31 owners' equity, $92,800.
g.	March 31 cash balance, $40,000.
h.	April budgeted sales, $91,000, 70% of which is for cash. Of the remaining 30%, half will be collected in April and half in May.
i.	April cash collections on March sales, $29,600.
j.	April cash payments of March 31 liabilities incurred for March purchases of inventory, $17,400.
k.	March 31 inventory balance, $29,400.
l.	April purchases of inventory, $10,100 for cash and $36,700 on credit. Half of the credit purchases will be paid in April and half in May.

Requirement 1. Show separate computations for cash, inventory, and owners' equity balances. Begin by calculating the cash balance.

Cash
Beginning balance
Cash inflows:
Cash sales
Collections
Cash outflows:
Payment of March liabilities
Cash purchases
Payments for April (credit) purchases
Purchase of equipment
Operating expenses
Ending balance