Note Printing Supply of Baltimore has applied for a loan. Its bank has requested a budgeted income statement for April 2025 and budgeted balance sheet at April 30, 2025 View the March 31-2025 balance shee As Note Printing Supply's controller, you have assembled the following additional information: View the additional information. Read the requirements. Requirement 1. Prepare the sales budget for April, Note Printing Supply Sales Budget For the Month Ended April 30, 2025 Total budgeted sales 91.000 Requirement 2. Prepare the inventory, purchases, and cost of goods sold budget for April Note Printing Supply Inventory, Purchases, and Cost of Goods Sold Budget) For the Month Ended April 30, 2025 Plus Total merchandise inventory required Less Budgeted Purchases March 31, 2025 Balance Sheet Note Printing Supply Printing Supply Balance Sheet Current Assets: March 31, 2025 Assets Cash Accounts Receivable Merchandise Inventory Total Current Assets Property, Plant, and Equipment: Equipment and Fixtures Less: Accumulated Depreciation Total Assets S Liabilities 51,000 15,500 12,500 79,000 nk foll 80,500 (12,900) 67,600 go $ 146,600 Bud Current Liabilities: Accounts Payable Stockholders' Eauthe 67 8,700 Cash Accounts Receivable Merchandise Inventory Total Current Assets Property, Plant, and Equipment: Equipment and Fixtures Less: Accumulated Depreciation Total Assets Current Liabilities: Accounts Payable 69 Liabilities 51,000 15,500 12,500 79,000 80,500 (12,900) 67,600 146,600 $ 8,700 Stockholders' Equity Common Stock, no par $ 20,000 117,900 Retained Earnings 137,900 Total Stockholders' Equity 146 600 Additional Information a. April dividends of $8,000 were declared and paid. b. April capital expenditures of $16,100 budgeted for cash purchase of equipment. c. April depreciation expense, $1,000. d. Cost of goods sold, 45% of sales. e. Desired ending inventory for April is $25,700. f. April selling and administrative expenses include salaries of $31,000, 30% 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 5% of sales, all paid in April. h. April budgeted sales, $91,000, 50% collected in April and 50% in May. i. April cash payments of March 31 liabilities incurred for March purchases of inventory, $8,700. April purchases of inventory, $16,250 for cash and $37,900 on account. Half the credit purchases will be paid in April and half in May. j.