Please complete the following master budget with cell references.

Completing a Master Budget-Manufacturing Nutty Co. makes gourmet gift baskets. Each basket requires 5 bags of snack mix to complete. The following fictional data relate to the operations of Nutty Co. Goumet Snacks: \begin{tabular}{|l|rr|} \hline Beginning of quarter balances: & & \\ \cline { 2 - 3 } Cash & $ & 20,000 \\ Accounts Receivable & $ & 26,250 \\ Finished Goods Inventory (baskets) & & 100 \\ Raw Materials inventory (bags) & - \\ Buildingsand equipment & $ & 105,000 \\ Accounts Payable & $ & 1,560 \\ Common Stock & $ & 100,000 \\ Retained Earnings & $ & 66,278 \\ \hline \end{tabular} \begin{tabular}{|r|r|r|r|r|r|r|} \hline \hline Actual and budgeted sales data (number of baskets): \\ \hline & Sept. (act.) & October & November & December & \multicolumn{1}{|c|}{ January } & February \\ \hline 350 & 400 & 450 & 600 & 300 & 450 \\ \hline \end{tabular} Gift basketsaresold for $150 each. Selling price per gift basket Sales are 50% for cash and 50% on credit. Credit sales are collected in the month following sale. The accounts receivable at the beginning of the quarter are a result of September'scredit sales. 80% of each raw materials purchases is paid for in the month of purchase; the other 20% is paid in the following month. The accounts payable at the beginning of the quarter are the result of September raw materials purchases. Office equipment costing $8,000 will be purchased for cash in November. \begin{tabular}{|c|c|lr|l|} \hline & Officeequipment & $ & 8,000 & in November \\ \hline \end{tabular} Management would like to maintain a minimum cash balance of at least $15,000 at the end of each month. The company has an agreement with a local bank that allows the company to borrow in increments of $1,000 at the beginning of each month. The interest rate on these loans is 2% per month and for simplicity we will lassume that interest is not compounded. The company would, as far as it is able, repay the loan plus accumulated interest at the end of the quarter. \begin{tabular}{|r|rr|r|} \hline Minimum cash on hand & $ & 15,000 & \\ \hline Borrowin & $ & 1,000 & increments \\ \hline Interest (no compounding) & 2% & \\ \hline \end{tabular} Use the data above, complete the following statements and schedules for the first quarter: Schedule of expected cash collections: \begin{tabular}{|c|c|c|c|c|c|} \cline { 2 - 5 } & bluecells for your useonly & October & November & December & Quarter \\ \hline & Cash Sales & & & & \\ \hline Credit sales & & & & \\ \hline \multicolumn{2}{|c|}{ Totalcash collected } & & & & \\ \hline \end{tabular} Prepare an contribution format income statement for the quarter ending December 31. Nutty Co. Gourmet Snacks Income Statement For Quarter Ended December 31 Sales revenue Less variable costs: Cost of goods sold Selling and admin. Totalvariable costs Contribution margin Less fixed costs: Manufacturing overhead Selling and admin. Total fixed costs Operating income Less interest expense Net income (loss) Prepare a balance sheet as of December 31. Completing a Master Budget-Manufacturing Nutty Co. makes gourmet gift baskets. Each basket requires 5 bags of snack mix to complete. The following fictional data relate to the operations of Nutty Co. Goumet Snacks: \begin{tabular}{|l|rr|} \hline Beginning of quarter balances: & & \\ \cline { 2 - 3 } Cash & $ & 20,000 \\ Accounts Receivable & $ & 26,250 \\ Finished Goods Inventory (baskets) & & 100 \\ Raw Materials inventory (bags) & - \\ Buildingsand equipment & $ & 105,000 \\ Accounts Payable & $ & 1,560 \\ Common Stock & $ & 100,000 \\ Retained Earnings & $ & 66,278 \\ \hline \end{tabular} \begin{tabular}{|r|r|r|r|r|r|r|} \hline \hline Actual and budgeted sales data (number of baskets): \\ \hline & Sept. (act.) & October & November & December & \multicolumn{1}{|c|}{ January } & February \\ \hline 350 & 400 & 450 & 600 & 300 & 450 \\ \hline \end{tabular} Gift basketsaresold for $150 each. Selling price per gift basket Sales are 50% for cash and 50% on credit. Credit sales are collected in the month following sale. The accounts receivable at the beginning of the quarter are a result of September'scredit sales. 80% of each raw materials purchases is paid for in the month of purchase; the other 20% is paid in the following month. The accounts payable at the beginning of the quarter are the result of September raw materials purchases. Office equipment costing $8,000 will be purchased for cash in November. \begin{tabular}{|c|c|lr|l|} \hline & Officeequipment & $ & 8,000 & in November \\ \hline \end{tabular} Management would like to maintain a minimum cash balance of at least $15,000 at the end of each month. The company has an agreement with a local bank that allows the company to borrow in increments of $1,000 at the beginning of each month. The interest rate on these loans is 2% per month and for simplicity we will lassume that interest is not compounded. The company would, as far as it is able, repay the loan plus accumulated interest at the end of the quarter. \begin{tabular}{|r|rr|r|} \hline Minimum cash on hand & $ & 15,000 & \\ \hline Borrowin & $ & 1,000 & increments \\ \hline Interest (no compounding) & 2% & \\ \hline \end{tabular} Use the data above, complete the following statements and schedules for the first quarter: Schedule of expected cash collections: \begin{tabular}{|c|c|c|c|c|c|} \cline { 2 - 5 } & bluecells for your useonly & October & November & December & Quarter \\ \hline & Cash Sales & & & & \\ \hline Credit sales & & & & \\ \hline \multicolumn{2}{|c|}{ Totalcash collected } & & & & \\ \hline \end{tabular} Prepare an contribution format income statement for the quarter ending December 31. Nutty Co. Gourmet Snacks Income Statement For Quarter Ended December 31 Sales revenue Less variable costs: Cost of goods sold Selling and admin. Totalvariable costs Contribution margin Less fixed costs: Manufacturing overhead Selling and admin. Total fixed costs Operating income Less interest expense Net income (loss) Prepare a balance sheet as of December 31