Omaha Onice Supply's March 31, 2018 Dance sheet flows the icon to view the balance sheet) Question Help The budgetcome of Orhan Supply assembled the i theo to view the data) data Cesent mounts to the r est Requirement 1. Prepare Omaha sales budget for April and May 2018. Round Omaha Omice Buy Ses Budget April and May, 2010 Enter any number in the dres and then we Omaha Office Supply Balance Sheet March 31, 2018 201 Assets Current Assets: Cash Accounts Receivable Merchandise Inventory 20,000 20,000 26,500 1,700 $ 68,200 Prepaid Insurance Total Current Assets Property, Plant, and Equipment: Equipment and Fixtures Less: Accumulated Depreciation Total Assets 61,000 (14,000) 47,000 115,200 ck Answer Print Done Property, Plant, and Equipment: Equipment and Fixtures Less: Accumulated Depreciation 01 61,000 (14,000) 47,000 115,200 Total Assets 15,000 9,000 $ 24,000 Liabilities Current Liabilities: Accounts Payable Salaries and Commissions Payable Total Liabilities Stockholders' Equity Common Stock, no par Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity 12,000 79,200 91,200 115,200 $ Done Print Answer. 22 Homework 4 of 5 (2 complete) Requirements sheet follows: assembled the following for April and May 2018. Rour 1. Prepare Omaha's sales budget for April and May 2018. 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. - X A More Info Sales in April are expected to be $140,000. Omaha forecasts that monthly sales will increase 2% over April sales in May. June's sales will increase by 4% over April sales. July sales will increase 20% over April sales. Omaha maintains inventory of $9,000 plus 25% of the cost of goods sold budgeted for the following month. Cost of goods sold equal 50% of sales revenue. Monthly salaries amount to $10,000. Sales commissions equal 5% of sales for that month. Other monthly expenses are as follows: Rent: $2,400 Depreciation: $800 Insurance: $400 Income tax: $1,800 en click Check Ansy