Please complete question on excel spreadsheet and show all formulas used to calculate.

(CDCC) is a partnership between local not-for-profit organizations and state and local governments whose mission is to provide quality affordable day care for children so that both parents (or other family members or guardians) are free to contribute their full-fledged services to the local, state and national economies. CDCC receives funding from state and local governments and charges families reduced fees to care for their children at their centers.

CDCC budgets the following revenue, expense and cash items related to its operations in the months of April and May:

CDCC expects to serve 900 children in April and 1,000 children in May.

For each child served, revenues and support are budgeted as follows:

- Families are charged a $250 monthly fee which they pay in full at the beginning of each month.

- CDCC bills the state $300 per child each month and collects the entire $300 one month after the billing.

- CDCC bills the local government (i.e. the California county in which the facility operates) $500 per child each month and collects $100 during the month of the billing and the remaining $400 during the next month.

- CDCC expects to receive a $100,000 cash donation from a child-care foundation in May.

Expenses and expenditures during the month of May are as follows:

Staff salaries expense: $425,000

Cost of food expense: $175,000

Insurance expense: $100,000

Cash paid for staff salaries: $275,000

Cash paid for food: $135,000

Cash paid for insurance: $15,000

Depreciation expense for equipment and facility: $30,000

CDCC will purchase new computers for a total of $750,000. Note: Depreciation on these computers is accounted for in the $30,000 depreciation expense above.

CDCCs May cash budget shows a beginning cash balance for the month of $130,000.

a. Prepare CDCCs operating budget for the month of May using the accrual accounting method. Include all appropriate subtotals.