P22A-47A (similar to) Question Help Tune Printing Supply of Baltimore has applied for a loan. Its bank has requested a budgeted balance sheet at April 30, 2016, and a budgeted statement of cash flows for April. The March 31, 2016 balance sheet follows: F: (Click the icon to view the balance sheet) As Tune Printing Supply's controller, you have assembled the following additional information: Data Table (Click the icon to view the information.) Read the requirements Balance sneet March 31, 2016 Assets Requirements -X More Info Current Assets Cash $ 50,700 13,600 12.300 a. $ 76,600 c. e. Accounts Receivable Merchandise Inventory Total Current Assets Property, Plant, and Equipment Equipment and Fixtures Less Accumulated Depreciation 80.800 1. Prepare the sales budget for April 2. Prepare the inventory, purchases, and cost of goods sold budget for April 3. Prepare the selling and administrative expense budget for April 4. Prepare the schedule of cash receipts from customers for April. 5. Prepare the schedule of cash payments for selling and administrative expenses for April 6. Prepare the cash budget for April. Assume the company does not use short-term financing to maintain a minimum cash balance. 7. Prepare the budgeted income statement for April. 8. Prepare the budgeted balance sheet at April 30, 2016 9. Prepare the budgeted statement of cash flows for April. April dividends of S7,000 were declared and paid. b. April capital expenditures of $16,000 budgeted for cash purchase of equipment. April depreciation expense, $500 d. Cost of goods sold, 40% of sales. Desired ending inventory for April is $26,900 f. April selling and administrative expenses include salaries of $35,000, 30% of which will be paid in cash and the remainder paid next month. g. Additional April selling and administrative expenses also include miscellaneous expenses of 15% of sales, all paid in April. h. April budgeted sales, $82,000, 50% collected in April and 50% in May. i. April cash payments of March 31 liabilities incurred for March purchases of inventory, $8,300. j. April purchases of inventory, 9.900 for cash and $37,500 on account. Half the credit purchases will be paid in April and half in May 68,600 (12.200 145,200 Total Assets Liabilities Current Liabilities: Accounts Payable $ 8.300 Stockholders' Equity S Print Done Print Done Common Stock, no par 35,000 101,900 Retained Earnings Total Stockholders' Equity 136,900 Choose from any list or enter any number in the input fields and then click Check Answer. 145,200 Total Liabilities and Stockholders' Equity parts remaining Clear All Print Done