Name Downs VRULALING MANAGEMENT REPORTS MARA 2. Assume that you have just signed a partnership agreement with your cousin Eddieto 02 Budgeted Financial open a bookstore near the college campus. You believe that you will be able to provide Statement Preparation excellent services at prices lower than your local competition. In order to begin opera tions, Eddie and you have decided to apply for a small business loan from the Smal Business Administration (SBA). Part of the application requires that you submit finarcial statements that will forecast the bookstore's first two years of operating activity and HS financial position at the end of the second year. The application is due within six veeks Because of your expertise in accounting and business, Eddie has asked you to develop the budgeted financial statements. 1. Lst the budgeted financial statements and supporting schedules you beliers You 2. Who needs the budgeted financial statements? 3. Why are you preparing budgeted financial statements? 4. What information do you need to develop on the budgeted financial statements: How will you obtain the information? 5. When must you have the budgeted financial statements prepared? 6. In what ways can Eddie and you use the budgeted financial statements that you have prepared? Emarks Budgeted Financial Statements Voyager Video Company, Inc., produces and markets two popular video games, "Fifth Galaxy" and "Young Pathfinder." The company's closing balance sheet account balances for 20x0 are as follows: Cash $18735