Minden Company is a wholesale distributor of premium European chocolates. The company's balance sheet as of April 30 is given below: Minden company Balance sheet April 30 Assets Cash Accounts receivable Inventory $ 16,500 67,000 32,000 249,000 $ 364,500 Buildings and equipment, net of deprecation Total assets Liabilities and stockholders' Equity Accounts payable Note payable Comon stock Retained earnings Total liabilities and stockholders' equity $ 68,750 20, 500 180,000 95, 250 $364,500 The company is in the process of preparing a budget for May and has assembled the following data: Required: 1. Calculate the expected cash collections from customers for May 2. Calculate the expected cash disbursements for merchandise purchases for May 3. Prepare a cash budget for May 4. Prepare a budgeted income statement for May 5. Prepare a budgeted balance sheet as of May 31, Reg 1 and 2 Reg 3 Reg 4 Req 5 Prepare a budgeted balance sheet as of May 31. Minden Company Budgeted Balance Sheet May 31 Assets + Total assets Liabilities and Stockholders' Equity Total liabilities and stockholders' equity Minden Company is a wholesale distributor of premium European chocolates. The company's balance sheet as of April 30 is given below: Minden company Balance sheet April 30 Assets Cash Accounts receivable Inventory $ 16,500 67,000 32,000 249,000 $ 364,500 Buildings and equipment, net of deprecation Total assets Liabilities and stockholders' Equity Accounts payable Note payable Comon stock Retained earnings Total liabilities and stockholders' equity $ 68,750 20, 500 180,000 95, 250 $364,500 The company is in the process of preparing a budget for May and has assembled the following data: Required: 1. Calculate the expected cash collections from customers for May 2. Calculate the expected cash disbursements for merchandise purchases for May 3. Prepare a cash budget for May 4. Prepare a budgeted income statement for May 5. Prepare a budgeted balance sheet as of May 31, Reg 1 and 2 Reg 3 Reg 4 Req 5 Prepare a budgeted balance sheet as of May 31. Minden Company Budgeted Balance Sheet May 31 Assets + Total assets Liabilities and Stockholders' Equity Total liabilities and stockholders' equity