ONLY NEED the empty boxes answered, not the ones already fill-in. Added the previous question for support.

Required information ATC 7-2 (Algo) Group Assignment Master budget and pro forma statements [The following information applies to the questions displayed below.] The following trial balance was drawn from the records of Walton Company as of October 1, year 2. $ 25,000 78,000 49,000 380,000 Cash Accounts receivable Inventory Store equipment Accumulated depreciation Accounts payable Line of credit loan Common stock Retained earnings Totals $ 80,400 81,000 280,000 68,000 22,600 $532,000 $532,000 ATC 7-2 (Algo) Part b b. Supply the missing information in the following pro forma income statement and balance sheet for the fourth quarter of year 2. The statements are prepared as of December 31, year 2. Complete this question by entering your answers in the tabs below. Income Statement Balance Sheet Supply the missing information in the following pro forma income statement for the fourth quarter of year 2. The statement is prepared as of December 31, year 2. 774,540 Income Statement Sales revenue Cost of goods sold Gross margin Operating expenses Operating income Interest expense Net income $ 563,654 (3,430) 560,224 Income Statement Balance Sheet > IRUVIII Required information prepared as of December 31, year 2. (Amounts to be deducted should be indicated by a minus sign. Round your answers to the nearest whole dollar.) Balance Sheet $ 10,660 $ 380,000 293,300 634,532 $ Assets Cash Accounts receivable Inventory Store equipment Accumulated depreciation store equipment Book value of equipment Total assets Liabilities Accounts payable Utilities payable Sales commissions payable Line of credit Equity Common stock Retained earnings Total liabilities and equity (55,767) 68,000 $ 634,532 ATC 7-2 (Algo) Part 6 c. Indicate whether Walton will need to borrow money during October by preparing October's Cash Budget. (Negative amounts should be indicated by a minus sign. Round your answers to the nearest whole dollar.) Cash Budget for October 0 Cash available Less: Payments 0 Total budgeted payments Cash surplus (shortage) Will Havel need to borrow money during October? Required information ATC 7-2 (Algo) Group Assignment Master budget and pro forma statements [The following information applies to the questions displayed below.] The following trial balance was drawn from the records of Walton Company as of October 1, year 2. $ 25,000 78,000 49,000 380,000 Cash Accounts receivable Inventory Store equipment Accumulated depreciation Accounts payable Line of credit loan Common stock Retained earnings Totals $ 80,400 81,000 280,000 68,000 22,600 $532,000 $532,000 ATC 7-2 (Algo) Part a Required a-1. Based on the following information, prepare a sales budget and a schedule of cash receipts for October, November, and December. Sales for October are expected to be $315,000, consisting of $58,000 in cash and $257,000 on credit. The company expects sales to increase at the rate of 10 percent per month. All accounts receivable are collected in the month following the sale. a-2. Based on the following information, prepare a purchases budget and a schedule of cash payments for inventory purchases for October, November, and December. The inventory balance as of October 1 was $49,000. Cost of goods sold for October is expected to be $81,000. Cost of goods sold is expected to increase by 10 percent per month. The company expects to maintain a minimum ending inventory equal to 20 percent of the current month cost of goods sold. Seventy-five percent of accounts payable is paid in the month that the purchase occurs, the remaining 25 percent is paid in the following month. a-3. Based on the following selling and administrative expenses budgeted for October, prepare a selling and administrative expenses budget for October, November, and December. Sales commissions (10% increase per month) Supplies expense (10% increase per month) Utilities (fixed) Depreciation on store equipment (fixed) Salary expense (fixed) Rent (fixed) Miscellaneous (fixed) $ 8,700 1,900 4,000 2,100 43,000 7,800 1,700 Required information Answer is complete and correct. Complete this question by entering your answers in the tabs below. Reg A1 Reg A2 Req A3 Based on the following information, prepare a sales budget and a schedule of cash receipts for October, November, and December. Sales for October are expected to be $315,000, consisting of $58,000 in cash and $257,000 on credit. The company expects sales to increase at the rate of 10 percent per month. All accounts receivable are collected in the month following the sale. October November December $ $ 58,000 257,000 315.000 63,800 $ 282,700 346,500 $ 70,180 310,970 381,150 $ Sales Budget Cash sales Sales on account Total budgeted sales Schedule of Cash Receipts Cash sales Collections from accounts receivable Total cash collections $ 58,000 $ 78,000 136,000 $ 63,800 $ 257,000 320,800 $ 70,180 282,700 352,880 $ Required information Reg A1 Reg A2 Req A3 Based on the following information, prepare a purchases budget and a schedule of cash payments for inventory purchases for October, November, and December. The inventory balance as of October 1 was $49,000. Cost of goods sold for October is expected to be $81,000. Cost of goods sold is expected to increase by 10 percent per month. The company expects to maintain a minimum ending inventory equal to 20 percent of the current month cost of goods sold. Seventy-five percent of accounts payable is paid in the month that the purchase occurs; the remaining 25 percent is paid in the following month. (Round your answers to the nearest whole dollar.) Show less OO Inventory Purchases Budget October November December Budgeted cost of goods sold $ 81,000 $ 89,100 $ 98,010 Plus: Desired ending inventory 16,200 17,820 19,602 Inventory needed 97,200 106,920 117,612 Less: Beginning inventory 49,000 16,200 17.820 Required purchases (on account) $ 48.200 $ 90,720 $ 99.792 Schedule of Cash Payments Payment of current months' accounts payable $ 36,150 $ 68,040$ 74.844 Payment for prior month's accounts payable 81,000 12,050 22,680 Total budgeted payments for inventory 117,150 $ 80,090 $ 97,524 Required information Reg A1 Reg A2 Reg A3 Based on the following selling and administrative expenses budgeted for October, prepare a selling and administrative expenses budget for October, November, and December. Sales commissions Supplies expense Utilities Depreciation on store equipment Salary expense Rent Miscellaneous Total S&A expenses October 8,700 1,900 4.000 2.100 43,000 7,800 1,700 69,200 November December 9,570$ 10,527 2,090 2.299 4,000 4,000 2,100 2.100 43.000 43,000 7,800 7.800 1,700 1,700 $ 70,260$ 71,426 $