Pet Treats, Inc. specializes in gourmet pet treats and receives all income from sales

Sales estimates (in millions)

-Q1 = 500; Q2 = 600; Q3 = 650; Q4 = 800; Q1 next year = 550

Accounts receivable

-Beginning receivables = $250

-Average collection period = 30 days

Accounts payable

-Purchases = 50% of next quarter's sales

-Beginning payables = 125

-Accounts payable period is 45 days

Other expenses

-Wages, taxes, and other expense are 30% of sales

-Interest and dividend payments are $50

-A major capital expenditure of $200 is expected in the second quarter

The initial cash balance is $80, and the company maintains a minimum balance of $50

Please create schedule and explain how did you get each number