Note Printing Supply of Baltimore has applied for a loan. Its bank has requested a budgeted income statement for April 2024 and budgeted As Note Printing Supply's controller, you have assembled the following additional information: balance sheet at April 30, 2024. The March 31, 2024, balance sheet follows: (Click the icon to view the information.) (Click the inon to wimw the halance shaol] Read the requirements. Data table More info a. April dividends of $6,000 were declared and paid. b. April capital expenditures of $17,000 budgeted for cash purchase of equipment. c. April depreciation expense, $200. d. Cost of goods sold, 40% of sales. e. Desired ending inventory for April is $21,200. f. April selling and administrative expenses include salaries of $32,000,20% of which will be paid in cash and the remainder paid next month. g. Additional April selling and administrative expenses also include miscellaneous expenses of 10% of sales, all paid in April. h. April budgeted sales, $84,000,65% collected in April and 35% in May. i. April cash payments of March 31 liabilities incurred for March purchases of inventory, $7,900. j. April purchases of inventory, $4,500 for cash and $37,800 on account. Half the credit purchases will be paid in April and half in May. Requirement 1. Prepare the sales budget for April. Requirement 2. Prepare the inventory, purchases, and cost of goods sold budget for April. Requirement 4. Prepare the budgeted cash receipts from customers for April. Requirement 5. Prepare the budgeted cash payments for selling and administrative expenses for April. Requirement 6. Prepare the cash budget for April. Assume the company does not use short-term financing to maintain a minimum cash balance. Review the budgeted cash receipts from customers you prepared above. Review the budgeted cash payments for selling and administrative expenses you prepared above. Requirement 7. Prepare the budgeted income statement for April. Review the sales budget you prepared above. Review the selling and administrative expense budget you prepared above. Review the inventory, purchases, and cost of goods sold budget you prepared above. Requirement 8. Prepare the budgeted balance sheet at April 30, 2024. Review the cash budget you prepared above. Note Printing Supply Budgeted Balance Sheet April 30, 2024 Assets Current Assets: Total Current Assets Property, Plant, and Equipment: Total Assets Liabilities Current Liabilities: Total Liabilities Stockholders' Equity Total Stockholders' Equity Total Liabilities and Stockholders' Equity