NEED HELP WITH JUST THE BALENCE SHEET AND CASH FLOW BUDGET. Thank you 
Display Budget Schedules Sheet 1 June (actual) $45,000 Gross Margin 23% July $52,000 Cash Sales 26% August $56,000 Ending Inventory 35% September $60,000 48% Inventory purchases paid in cash October $50,000 Other Expenses 8% Save your file to preserve this table. Complete the assignments on the "Display Budget Schedules" tab. 0 The company plans for each month's ending inventory to be the blue table percentage of the following month's budgeted cost of goods sold. Inventory cash purchases are shown in the blue table; the rest is paid for in the following month. The accounts payable on June 30 are the result of June purchases of inventory. All monthly expenses were paid monthly. Monthly expenses included: commissions, $9,000; rent, $1,200; other expenses (excluding depreciation), are reflected in the blue table as a percent of sales. Depreciation is $1,300 for the quarter and includes depreciation on new assets acquired during the quarter. The assets acquired for cash during the quarter included equipment of $2,100 in July and $3,000 in August. The company wishes to maintain a minimum cash balance of $3,000 at the end of each month. The company has a financing facility that allows the company to borrow in increments of $1,000 at the beginning of each month from a local bank, up to a total loan balance of $30,000. The interest rate on these loans is 1.5% per month, and interest is not compounded. The company, when able, repays the loan plus accumulated interest at the end of the quarter. Sunny and Clear, Inc. is a small wholesale distributor of consumer goods. The c generates a gross margin shown in the blue table. The percent of cash sales is blue table; the remainder is sold on account and is collected one month later. receivable on June 30, 2020 are the result of June credit sales. Actual and bud for the period were as follows: D 0 Required: Using the data above, for quarter ending September 2020, prepare the followin a. The schedule of the expected cash collections b. The merchandise purchases budget Additional information: c. The schedule of expected cash disbursements Merchandise purchases d. The schedule of expected cash disbursement -Selling and administrative exp e. The cash budget Current assets as of June 30: Cash f. An absorption costing income statement for the quarter ending September 20 g. A balance sheet as of September 30, 2020 Accounts receivable $4,000 $29,250 $7,100 $102,550 Inventory Buildings and equipment, net *Provide a short write up (2-3 paragraphs) of the cashflow situation at this com after you completed the budgets. What are your concerns and what would you recommend to management? Accounts payable $22,400 Capital stock $99,000 Retained earnings $21.500 L Cover Sheet Data Source T #tv A Sheet 2 -0 Display Budget Schedules Sheet 1 June (actual) $45,000 Gross Margin 23% July $52,000 Cash Sales 26% August $56,000 Ending Inventory 35% September $60,000 48% Inventory purchases paid in cash October $50,000 Other Expenses 8% Save your file to preserve this table. Complete the assignments on the "Display Budget Schedules" tab. 0 The company plans for each month's ending inventory to be the blue table percentage of the following month's budgeted cost of goods sold. Inventory cash purchases are shown in the blue table; the rest is paid for in the following month. The accounts payable on June 30 are the result of June purchases of inventory. All monthly expenses were paid monthly. Monthly expenses included: commissions, $9,000; rent, $1,200; other expenses (excluding depreciation), are reflected in the blue table as a percent of sales. Depreciation is $1,300 for the quarter and includes depreciation on new assets acquired during the quarter. The assets acquired for cash during the quarter included equipment of $2,100 in July and $3,000 in August. The company wishes to maintain a minimum cash balance of $3,000 at the end of each month. The company has a financing facility that allows the company to borrow in increments of $1,000 at the beginning of each month from a local bank, up to a total loan balance of $30,000. The interest rate on these loans is 1.5% per month, and interest is not compounded. The company, when able, repays the loan plus accumulated interest at the end of the quarter. Sunny and Clear, Inc. is a small wholesale distributor of consumer goods. The c generates a gross margin shown in the blue table. The percent of cash sales is blue table; the remainder is sold on account and is collected one month later. receivable on June 30, 2020 are the result of June credit sales. Actual and bud for the period were as follows: D 0 Required: Using the data above, for quarter ending September 2020, prepare the followin a. The schedule of the expected cash collections b. The merchandise purchases budget Additional information: c. The schedule of expected cash disbursements Merchandise purchases d. The schedule of expected cash disbursement -Selling and administrative exp e. The cash budget Current assets as of June 30: Cash f. An absorption costing income statement for the quarter ending September 20 g. A balance sheet as of September 30, 2020 Accounts receivable $4,000 $29,250 $7,100 $102,550 Inventory Buildings and equipment, net *Provide a short write up (2-3 paragraphs) of the cashflow situation at this com after you completed the budgets. What are your concerns and what would you recommend to management? Accounts payable $22,400 Capital stock $99,000 Retained earnings $21.500 L Cover Sheet Data Source T #tv A Sheet 2 -0
