Please complete the charts below?

Munoz Company is a retail company that specializes in selling outdoor camping equipment. The company is considering opening a new store on October 1, year 1. The company president formed a planning committee to prepare a master budget for the first three months of operation. As budget coordinator, you have been assigned the following tasks.

Required

a) October sales are estimated to be $340,000, of which 40 percent will be cash and 60 percent will be credit. The company expects sales to increase at the rate of 20 percent per month. make a sales budget.

b) The company expects to collect 100 percent of the accounts receivable generated by credit sales in the month following the sale. make a schedule of cash receipts.

c) The cost of goods sold is 70 percent of sales. The company desires to maintain a minimum ending inventory equal to 20 percent of the next month's cost of goods sold. However, ending inventory of December is expected to be $12,900. Assume that all purchases are made on account. make an inventory purchases budget.

D) The company pays 70 percent of accounts payable in the month of purchase and the remaining 30 percent in the following month. make a cash payments budget for inventory purchases.

E) Budgeted selling and administrative expenses per month follow.

Salary expense (fixed) $18, 900 Sales commissions 4% of Sales Supplies expense 2% of Sales Utilities (fixed) $ 2,300 Depreciation on store fixtures (fixed)* 1 4,900 Rent (fixed) 1 5,700 Miscellaneous (fixed) $ 2,100Complete this question by entering your answers in the tabs below. Required A Required B Required (3 Required D Required E Required F Required G Required H Required I Required J October sales are esijmated to be $340,000, of which 40 percent will be cash and 60 percent will be credit. The companyr expects sales to increase at the rate of 20 percent per month. Prepare a sales budget. Cash sales _ __ --- Required A 3 Required B Required (3 Required D Required E Required F Required G Required H Required I Required J The company expects to collect 100 percent of the accounts receivable genelated by credit sales in the month following the sale. Prepare a schedule of cash receipts. sebum-Wm Required A Required B Required C Required D Required E Required F Required G Required H Required I Required J The cost of goods sold is ?D percent of sales. The company desires to maintain a minimum ending inventory equal to 20 percent of the next month's cost of goods sold. However, ending inventory of December is expected to be $12,900. Assume that all purchases are made on account. Prepare an inventory purchases budget. Required purchases (on account} Required A Required B Required C Required D Required E Required F Required G Required H Required I Required J The company pays 1'!) percent of accounts payable in the month of purchase and the remaining 30 percent in the following month. Prepare a cash payments budget for inventory purchases. (Round your nal answers to the nearest Iwrhole dollar amounts.) Schedule of Cash Payments Budget for Inventory Purchases Payment of current month's accounts payable _ _ _ Payment ior prior month's accounts payable Total budgeted payments for inventory Required A Required B Required C Required D Required E Salary expense Sales commissions Supplies expense Utilities Rent Miscellaneous Total 88A expenses Required F Required (3 Required H Required I Required J Required A Required B Required C Required D Required E 1 Required FE Required G Required H Required 1 Required J Utilities and sales commissions are paid the month after they are incurred; all other expenses are paid in the month in which they are incurred. Prepare a cash payments budget for selling and administrative expenses. Schedule Elf Cash Payments for MA Expenses Salary expense Sales commissions Supplies expense Utilities Depreciation on store xtures Rent Miscellaneous Total payments for 38.15. expenses Required A Required B Required (3 Required D Required E Required F Required G Required H Required I Required J Munoz borrows funds, in increments of $1,000, and repays them on the last day of the month. Repayments may be made in any amount available. The company also pays its vendors on the last day of the month. It pays interest of 2 percent per month in cash on the last day of the month. To be prudent, the company desires to maintain a $21,000 cash cushion. Prepare a cash budget. (Any repayments should be indicated with a minus Sign.) Show less; Section '1: Cash Receipts Total cash avai leble Section 2: Cash Peyme nts Total budgeted disbursements Section 3: Financing Activities Required A Required B Required C Required D Required E Required F Required G Required H Required I Required J Prepare a pro forma income statement for the quarter. Required A Required B Required C Required D Required E Required F Required G Required H Required I Required J Prepare a pro forma balance sheet at the end of the quarter. (Amounts to be deducted should be indicated by a minus Sign.) Total assets Liabilities Total liabilities and equity Required A Required B Required C Required D Required E Required F Required G Required H Required I Required ] Prepare a pro forma statement of cash flows for the quarter. (Cash outflows should be indicated with a minus sign.) MUNOZ COMPANY Pro Forma Statement of Cash Flows For the Quarter Ended December 31, Year 1 Cash flows from operating activities Net cash flows from operating activities Cash flows from investing activities Cash flow from financing activities