P22A-46A (similar to) Question Help Additional information: Dump Company has the following post-closing trial balance on December 31, 2016: (Click the icon to view the post-closing trial balance.) The company's accounting department has gathered the following budgeting information for the first quarter of 2017: (Click the icon to view the budget information.) Rent and income tax expenses are paid as incurred. Insurance expense is an expiration of the prepaid amount. Read the requirements A Data Table Data Table - x Requirements $ 121,600 60,100 60.800 1. Prepare a budgeted income statement for the quarter ended March 31, 2017 2. Prepare a budgeted balance sheet as of March 31, 2017 3. Prepare a budgeted statement of cash flows for the quarter ended March 31, 2017 Credit 6,080 Print Done Dump Company Post-Closing Trial Balance December 31, 2016 Account Debit Cash $ 21,000 Accounts Receivable 20,000 Merchandise Inventory 14,000 Prepaid Insurance 2,400 Equipment and Fixtures 61,000 Accumulated Depreciation $ Accounts Payable Salaries and Commissions Payable Common Stock 5,500 Budgeted total sales all on account Budgeted purchases of merchandise inventory, all on account Budgeted cost of goods sold Budgeted selling and administrative expenses Commissions expense Salaries expense Rent expense Depreciation expense Insurance expense Budgeted cash receipts from customers Budgeted cash payments for merchandise inventory Budgeted cash payments for salaries and commissions Budgeted income tax expense 4,300 200 100 28,000 26,000 6,400 14,000 44,000 126,890 68,650 14,778 4,500 Retained Earnings $ Totals 118,400 $ 118,400 Print Done Print Done Clear All Check