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Need help with requirement 1, the second picture are the requirements Note Medical Supply has applied tor a loan Marine National Bank has requested a

Need help with requirement 1, the second picture are the requirements image text in transcribed
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Note Medical Supply has applied tor a loan Marine National Bank has requested a budgeted balance sheet as of Apnil 30, and a combined cash budget for April As Note Medical Supply's controller, you have assembled the following information (Click the icon to view the information ) Read the tequirements Requirement 1. Show separate computations for cash, inventory, and owners' equity balances Begin by calculating the cash balance Cash Data Table Beginning balance Cash inflows Cash sales Collections Cash outflows a. March 31 equipment balance, $52.100, accumulated depreciation, $41.300 b. Apri capital expenditures of $42,800 budgeted for cash purchase of equipment c. April depreciation expense, $800 d. Cost of goods sold 40% of sales e. Other April operating expenses, including nome tax, total S 12.600, 25% of which wil be paid in cash Payment of March liabilitios Cash purchases Paymonts for Aprnl (crodit) purchasest Purchase of equipment Operating expenses and the remainder accrued at Aprl 30 f. March 31 owners' equity, $91,700 g. March 31 cash balance, $40,000 h. April budgeted sales, $87,000, 75% of which is lor cash Of the rernanng 25%, half will be clected n Apnil and half in May i. Apil cash collections on March sales, $29,500 i. April cash payments of March 31 labilities incurred for March purchasos of inventory, $17,600 k. March 31 inventory balance, $29,000 Ending balance Enter any number in the edit fields and then click CheckI. April purchases of inventory, $10,300 for cash and $36,500 on credit Half of the credit purchases will be paid in Apni and hait in May parts remaining

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