Omaha Omice Supply's March 31, 2024, balance shoot follows: (Click the icon to view the balance shoot.) The budget committee of Omaha Omce Supply has assembled the following data (click the icon to view the data) Read the requirements X X Requirements Data table Requirement 1. Prepare Omaha's sales budget for April and May 2024. Round all amounts to the nearest dollar Omaha Office Supply Sales Budget Aprill and May, 2024 April May 1 Prepare Omaha's sales budget for April and May 2024. Round all calculations to the nearest dollar 2. Prepare Omaha's inventory. purchases, and cost of goods sold budget for April and May. . 3. Prepare Omaha's selling and administrative expense budget for April and May Total budgeted sales Requirement 2. Prepare Omaha's inventory. purchases, and cost of goods sold budget for April and May. Omaha Supply Company inventory. Purchases, and cost of Goods Sold Budget April and May, 2024 April May Print Dana Plus: Total merchandise inventory required More info Loss: Omaha Office Supply Balance Sheet March 31, 2024 Assets Current Assos: Cash $ 23.000 Accounts Receivable 18.000 Merchandise Inventory 19.500 2.400 Prepaid Insurance Total Current Assets $ 62 900 Property, plant, and Equipment Equipment and Axtures 34,000 Loss: Accumulated Depreciation (20.000) 14.000 Total Assets 76.900 Labs Current Liabilities: Accounts Payable S $ 10,000 Salaries and Commissions Payable 3.600 Total Liabilities S $ 13,600 Stockholders' Equity Common Stock, no par 21,000 Retained Eamings 42.300 Total Stockholders' Equity 63.300 Total Liabilities and Stockholders' Equity $ 76.900 2 Sales in April are expected to be $100.000 Omaha forecasts that monthly sales will Increase 29 over April sales in May June's sales will increase by 4% over April sales. July sales will increase 20% over April sales. b Omaha maintains inventory of $7.000 plus 25% of the cost of goods sold budgeted for the following month. Cost of goods sold equal 50% of sales revenue C. Monthly salaries amount to $3.000. Sales commissions equal 5% of sales for that month. d other monthly expenses are as follows: - Rent: $2.600 Depreciation $300 - Insurance: $200 - Income tax: $1.800 Budgeted Purchases Requirement 3. Prepare Omaha's selling and administrative expense budget for April and May. Omaha Office Supply Selling and Administrative Expense Budget Aprill and May, 2024 April May Variable expenses: Flowed expenses: Print Dana Total xed expenses Print Dong Total selling and administrative expenses