NOTE -Sorry I was not able to copy paste the tables but I tried my best to make it as clear as possible. Using the preceding data:1. schedule of expected cash collections.Table -Shilow Company Schedule of expected cash collections Cash Sales - April? May? June? Quarter?Credit sales - April? May? June? Quarter?Total cash collections - April? May? June? Quarter?2. schedule of inventory purchases and a schedule of expected cash disbursements for purchases.Table :Shilow CompanySchedule of Inventory Purchases a)______________Fill blank - April? May? June? Quarter?______________Fill blank - April? May? June? Quarter?______________Total needs - April? May? June? Quarter?______________Fill blank - April? May? June? Quarter?______________Fill blank - April? May? June? Quarter?b)Table :Shilow CompanySchedule of expected cash disbursement for purchasesMarch Purchases - April? May? June? Quarter?April Purchases - April? May? June? Quarter?May Purchases - April? May? June? Quarter?June Purchases - April? May? June? Quarter?Total cash disbursements - $? $? $? $?3. schedule of expected cash disbursements for operating expenses.Table :Shilow CompanySchedule of expected cash disbursements for operating expenses ______________Fill blank - April? May? June? Quarter?______________Fill blank - April? May? June? Quarter?______________Total needs - April? May? June? Quarter?Total cash disbursements $?$?$?$?4. cash budget by month and for the quarter in total. (Any "Repayments" and "Interest" should be indicated by a minus sign.)Table :Shilow CompanyCash Budget ______________Fill blank - April? May? June? Quarter?______________Fill blank - April? May? June? Quarter?Total cash available - #? #? #? #?______________Fill blank - April? May? June? Quarter?______________Fill blank - April? May? June? Quarter?______________Fill blank - April? May? June? Quarter?______________Fill blank - April? May? June? Quarter?Total disbursements $?$?$?$?Excess (deficiency) of cash - april? may? june? quarter?financing - april? may? june? quarter?______________Fill blank - April? May? June? Quarter?______________Fill blank - April? May? June? Quarter?______________Fill blank - April? May? June? Quarter?______________Fill blank - April? May? June? Quarter?Total financing - $?$?$?$?______________Fill blank - April? May? June? Quarter?5. n income statement for the quarter ended June 30.Table :Income statement For the quarter end of June 30__________Fill Blank - blank #? Deduct: Cost of goods sold - blank #?__________Fill Blank - blank #?__________Fill Blank - blank #?Goods available for sale - #?__________Fill Blank - blank #?__________Fill Blank - blank #?__________Fill Blank - blank #?Deduct: operating expenses - blank #?__________Fill Blank - blank #?__________Fill Blank - blank #?__________Fill Blank - blank #?__________Fill Blank - blank #?__________Fill Blank - blank #?__________Fill Blank - blank #?__________Fill Blank - blank #?__________Fill Blank - blank #?6. balance sheet as of June 30.Table :Shilow Company Balance Sheet as of June 30AssetsCurrent Assets - ?__________Fill Blank - blank #?__________Fill Blank - blank #?__________Fill Blank - blank #?__________Fill Blank - blank #?Total current assets - ?__________Fill Blank - blank #?__________Fill Blank - blank #?Total Assets - ?Liabilities and Shareholders' Equity Current Liabilities__________Fill Blank - blank #?__________Fill Blank - blank #?Stockholders' equity- ?__________Fill Blank - blank #?__________Fill Blank - blank #?__________Fill Blank - blank #?Total shareholders' equity - ?Total liabilities and shareholders equity - ?

Assignment #2 i Saved Following Is selected information relating to the operations of Shilow Company, a wholesale distributor: 2 Current assets as of March 31: Cash $ 19,000 Accounts receivable 32,000 57,600 25 Inventory Plant and equipment, inct 161,000 points Accounts payable 41,600 Capital shares 210,000 Retained earnings 18,D00 a. Gross margin is 25% of sales. b. Actual and budgeted sales data are as follows: March (actual) $ 80,000 April 96,000 May 108,000 June 126,000 July 78,000 c. Sales are 60% for cash and 40% on credit. Credit sales are collected in the month following sale. The accounts receivable at March 31 are a result of March credit sales. d. At the end of each month, inventory is to be on hand equal to 80% of the following month's sales needs, stated at cost. e. One-half of a month's inventory purchases are paid for in the month of purchase; the other half are paid for in the following month. The accounts payable at March 31 are a result of March purchases of Inventory. f. Monthly expenses are as follows: salaries and wages, 12% of sales; rent, $5,000 per month; other expenses (excluding depreciation), 6% of sales. Assume that these expenses are paid monthly. Depreciation is $1,500 per month (includes depreciation on new assets). g. Equipment costing $2,100 will be purchased for cash in April. h. The company must maintain a minimum cash balance of $6,000. An open line of credit is available at a local bank. All borrowing is done at the beginning of a month, and all repayments are made at the end of a month; borrowing must be in multiples of $1,000. The annual interest rate is 12%. Interest is paid only at the time of repayment of principal; figure interest on whole months (1/12, 2/12, and so forth)