Ostas Company is a wholesale distributor of premium European chocolates. The company's balance sheet as of April 30 is given below: Ostas Company Balance Sheet (April 30): Assets Liabilities and Stockholders' Equity The company is in the process of preparing budget data for May. Many budget items have already been prepared, as stated below: following month. All of April 30 accounts receivable will be collected in May. month. All of the April 30 accounts payable to suppliers will be paid during May. C. The May 31 inventory balance is budgeted at $40,000. D. Selling and administrative expenses for May are budgeted at $72,000, exclusive of depreciation. These expenses will be paid in cash. Depreciation is budgeted at $2,000 for the month. E. The note payable on the April 30 balance sheet will be paid during May, with $100 in interest. (All of the interest relates to May). F. New refrigerating equipment costing $6,500 will be purchased for cash during May. Questions Note: Please answer each part separately and follow the appropriate format for the financial statements. 1. For May, prepare a (i) schedule of expected cash collections from sales and (ii) schedule of expected cash disbursements for merchandise (10 points) 2. Prepare a cash budget for May. Only the dollar amount from the above schedules must be shown in your cash budget statement at appropriate places (15 points). 3. Prepare a budgeted income statement for May ( 20 points). 4. Prepare a budgeted balance sheet as of May 31 (20 points). the media you wish to upload for proof of your work