Pelangi Water Pot Sdn Bhd sells water filter and its components for domestic and commercial uses. The company management would like to prepare budgets for a period of 4 months. Below is the relevant information for a four-month period: 1. All sales are on account. Collections from customers are scheduled according to the following percentages of sales: in the month of sales...... in the first month after sales in the second month after sales 2. The company determines the desired ending inventory level at 60% of the following month's sales. Cost of goods sold for each month is equal to RM20,000 plus 50% of total sales of the current month. All purchases are made on account, and the payments will be made accord- ing to the following percentages: . one month after purchases two months after purchase 3. Estimated monthly expenses to be incurred: . Promotions and advertising Depreciation Insurance Employees salaries. Sales commissions 4. Actual and forecasted sales according to months: November 2018 (actual) December 2018 (actual) . January 2019. February 2019 . . March 2019 April 2019 May 2019 40% 30% .. 30% . . 40% 60% RM5,000 . RM1,500 ... RM600 RM3,500 12% of Sales RM250,000 RM300,000 RM330,000 RM450,000 RM550,000 RM600,000 RM660,000 Instructions Prepare the followings for the months of January through April, 2019: a. Sales budget b. Schedule of cash collections from customers c. Purchases, ending inventory and cost of goods sold budgets d. Schedule of payments for purchases e. Operating expenses budget f. Statement of Profit or Loss Budget