Not sure if my answers are right! Then I got stuck on part 3 and 4! I needs part 3 and 4 done and the other answers checked please!

The following information applies to the questions displayed below. Beech Corporation is a meschandising company that is preparing a master budget for the third quarter of the calendar year. The company's balance sheet as of June 30th is shown below: Beech Corporation Balance Sheet June 30 Assets Cash Accounts receivable Inventory Plant and equipment net of deprecation Total assets 74,000 143.000 73,500 224,000 $514,500 Liabilties and Stockholders Equity Accounts payable Common stock Retained earnings 85,000 310,000 119,500 S 514,500 Total labilities and stockholders equity Beech's managers have made the following additional assumptions and estimates: 1. Estimated sales for July, August, September, and October will be $350,000, $370,000, $360,000, and $380,000, respectively 2 All sales are on credit and all credit sales are collected. Each month's credit sales are collected 35% in the month of sale and 65% in the month following sale. All of the accounts receivable at June 30 will be collected in July 3. Each month's ending inventory must equal 30% of the cost of next month's sales. The cost of goods sold is 70% of sales. The company pays for 40% of its merchandise purchases in the month of the purchase and the remaining 60% in the month following the purchase. All of the accounts payable at June 30 will be paid in July 4. Monthly selling and administrative expenses are always $46,000. Each month $7,000 of this total amount is depreciation expense and the remaining $39,000 relates to expenses that are paid in the month they are incurred 5. The company does not plan to borrow money or pay or declare dividends during the quarter ended September 30. The company does not plan to issue any common stock or repurchase its own stock during the quarter ended September 30 Required: 1. Prepare a schedule of expected cash collections for July, August, and September. Also compute total cash collections for the quarter ended September 30. Schedule of Expected Cash Collections ont Jut August September Quarter From accounts receivable From July sales From August sales From September sales Total cash collections $ 143,000r $ O 143,000 122,500227.500 350,000 129,500240,500 370,000 126,000 265,500$ 357000 $ 366,500 S 989,000 126,000 2-a. Prepare a merchandise purchases budget for July, August, and September. Also compute total merchandise purchases for the quarter ended September 30. Merchandise Purchases Budget ugust SeptemberTotal Budgeted cost of goods sold Add: Desired ending merchandise inventory Total needs Less: Beginning merchandise inventory Required purchases $ 245,000 S 259,000 S 252,000 s 756,000 233,100 989,100 226,800 $ 249,200 256,900$256,200 $ 762,300 77.700 322,700 73,500 75,600 334,600 77,700 9,800 331,800 75,600 3. Prepare an income statement for the quarter ended September 30 Beech Corporation Income Statement For the Quarter Ended September 30 Sales Cost of goods sold Gross margin Depreciation Net operating income Selling and administrative expenses Net income $1,460,000 756,000 704,000 21,000 683,000 683,000 4. Prepare a balance sheet as of September 30. Beech Corporation Balance Sheet September 30 Assets Total assets Liabilities and Stockholders' Equity Total liabilities and stockholders' equity