Please create a Master Budget for the quarter including April, May, June, including the Sales Budget, Expected Cash Collections, Merchandise Purchase Budget, Cash Disbursement Purchases, Cash Budget, Budgeted Income Statement, and Budgeted Balance sheet.

Master Rudget Prnjrct Saved to OneDrive Nick Olczak File Home Insert Draw Page Layout Formulas Data Review View Help Tell me what you want to do Share Comments Conditional Format as Cell TableStyles Insert Dcletr Fomat Sort &Find Filler Selecl Clear Fomat Painter Edring B17 XfSUM(B13:816) 1 The company's balance sheet as of March 31 is given below: 4 Assets 5 Cash 6 Accounts Receivable ($10,500 Feb. sales; S192,000 March) 7 Inventory 8 Prepaid Insurance 9 Property ad Equipment net) 10 Total Assets 79,000 532,500 118,800 23,500 1,000,000 1,753,800 12 Liabilities and Stockholder's Equity 13 Accounts Payable 14 Dividends Payable 15 Common Stock 16 Retained Farnings 17 Liabilities and Stockholder's Equity 18 19 20 71 105,000 18,750 900,000 730,050 $1,753,800 23 25 26 Beg. Balance Sheet Assumptions Sales Budget Expected Cash Merchandise : +100 3:35 PM O Type here to search Mater Rudget Prnjat Saved to OneDrive Nick Olczak File Home Insert Draw Page Layout Formulas Data Review View Help Tell me what you want to do Share Comments Cut Copy Format painter Blu.T Conditional Format as Cell TableStyles Insert Dcletr Fomat Sort &Find Filler Selecl Clear Edring C67 3 Unit Sales Per Month: 4 (Actual 5 January 6 February Budgeted) 21,000 April 27,000 May 41,000 June 66,000 July 101,000 August 1,000 September 31000 29,000 26,000 Feb Sales March Sales $105,000 $615,000 March 9 Selling Price per Unit 10 11 Percentage ot earrings available tor the next manth by the end of the prior manth: 12 13 Suppliers are paid per pair of earrings: $1.50 15 16 Percentage of month's sales collected in that month: 18 Percentage ot month's sales collected in tollowing month 19 20 Percentage of month's sales collected in second month following sale: 21 22 Monthly Operating Expenses: 23 4 Variable 5 Sales Commissions 26 7 Fixerd: 1036 4% Beg. Balance SheetAssumptions Merchandise E +100 3:36 PM O Type here to search Master Rudget Pmject Saved to OncDrive Nick Olczak File Home Insert Draw Page Layout Formulas Data Review View Help Tell me what you want to do Share Comments Conditional Format as Cell TableStyles Insert Dcletr Fomat Sort &Find Filler Selecl Clear Format Pinter Bru.T Edring 27Fixed: 28 Advertising 29 Rent 30 Salaries 31 Utilities 32 nsurance 33 Depreciation 250,000 23,000 116,000 9,500 19,000 5 Company Balance Sheet, March 31 36 Assets: 37 Cash 38 AR 79,000 10,500 492,000 118,800 23,500 1,000,000 ,753,800 Feb Sales March Sales4 40 Inventory 41 Prepaid Insurance 42 Property&Equip 43 Total Assets 15 Liabilities & Stockholder Equity: 16 AP 4 Dividends Payable 48 Common Stuck 49 Retained Earnings 50 Total iabilities&Storkholder Fquity 105,000 18,50 730,050 1,753,800 Beg. Balance SheetAssumptions Merchandise E - +100 3:36 PM O Type here to search 2 Master Rudget Pmject Saved to OncDrive Nick Olczak File Home Insert Draw Page Layout Formulas Data Review View Help Tell me what you want to do Share Comments Cut Conditional Format as Cell TableStyles Insert Dcletr Fomat Sort &Find Filler Selecl Clear Edring C67 41 Prepaid Insurance 42 Property&Equip 43 Total Assets 23,500 1,000,000 ,753,800 15 Liabilities & Stockholder Equity: 16 AP 4 Dividends Payable 48 Common Stuck 49 Retained Earnings 50 Total iabilities&Storkholder Fquity 51 52 53 Planned Purchases in Equipment: 54 Cash: 55 May 56 June 57 58 Company dedlas dividends of 18,750 each quarter, payable in the tirst month ot the following quarter 105,000 18,50 900,000 730,050 1,753,800 18,500 45,000 60 Minimum Cash Balance: 55,000 62 Company borrows 1,000 from bank at beginning of each month 631 Interest rate is 1% per month, nut compounded 64 65 AR 151,500$612,000 Beg. Balance SheetAssumptions Merchandise E - 3:36 PM O Type here to search Master Rudget Prnjrct Saved to OneDrive Nick Olczak File Home Insert Draw Page Layout Formulas Data Review View Help Tell me what you want to do Share Comments Conditional Format as Cell TableStyles Insert Dcletr Fomat Sort &Find Filler Selecl Clear Fomat Painter Edring B17 XfSUM(B13:816) 1 The company's balance sheet as of March 31 is given below: 4 Assets 5 Cash 6 Accounts Receivable ($10,500 Feb. sales; S192,000 March) 7 Inventory 8 Prepaid Insurance 9 Property ad Equipment net) 10 Total Assets 79,000 532,500 118,800 23,500 1,000,000 1,753,800 12 Liabilities and Stockholder's Equity 13 Accounts Payable 14 Dividends Payable 15 Common Stock 16 Retained Farnings 17 Liabilities and Stockholder's Equity 18 19 20 71 105,000 18,750 900,000 730,050 $1,753,800 23 25 26 Beg. Balance Sheet Assumptions Sales Budget Expected Cash Merchandise : +100 3:35 PM O Type here to search Mater Rudget Prnjat Saved to OneDrive Nick Olczak File Home Insert Draw Page Layout Formulas Data Review View Help Tell me what you want to do Share Comments Cut Copy Format painter Blu.T Conditional Format as Cell TableStyles Insert Dcletr Fomat Sort &Find Filler Selecl Clear Edring C67 3 Unit Sales Per Month: 4 (Actual 5 January 6 February Budgeted) 21,000 April 27,000 May 41,000 June 66,000 July 101,000 August 1,000 September 31000 29,000 26,000 Feb Sales March Sales $105,000 $615,000 March 9 Selling Price per Unit 10 11 Percentage ot earrings available tor the next manth by the end of the prior manth: 12 13 Suppliers are paid per pair of earrings: $1.50 15 16 Percentage of month's sales collected in that month: 18 Percentage ot month's sales collected in tollowing month 19 20 Percentage of month's sales collected in second month following sale: 21 22 Monthly Operating Expenses: 23 4 Variable 5 Sales Commissions 26 7 Fixerd: 1036 4% Beg. Balance SheetAssumptions Merchandise E +100 3:36 PM O Type here to search Master Rudget Pmject Saved to OncDrive Nick Olczak File Home Insert Draw Page Layout Formulas Data Review View Help Tell me what you want to do Share Comments Conditional Format as Cell TableStyles Insert Dcletr Fomat Sort &Find Filler Selecl Clear Format Pinter Bru.T Edring 27Fixed: 28 Advertising 29 Rent 30 Salaries 31 Utilities 32 nsurance 33 Depreciation 250,000 23,000 116,000 9,500 19,000 5 Company Balance Sheet, March 31 36 Assets: 37 Cash 38 AR 79,000 10,500 492,000 118,800 23,500 1,000,000 ,753,800 Feb Sales March Sales4 40 Inventory 41 Prepaid Insurance 42 Property&Equip 43 Total Assets 15 Liabilities & Stockholder Equity: 16 AP 4 Dividends Payable 48 Common Stuck 49 Retained Earnings 50 Total iabilities&Storkholder Fquity 105,000 18,50 730,050 1,753,800 Beg. Balance SheetAssumptions Merchandise E - +100 3:36 PM O Type here to search 2 Master Rudget Pmject Saved to OncDrive Nick Olczak File Home Insert Draw Page Layout Formulas Data Review View Help Tell me what you want to do Share Comments Cut Conditional Format as Cell TableStyles Insert Dcletr Fomat Sort &Find Filler Selecl Clear Edring C67 41 Prepaid Insurance 42 Property&Equip 43 Total Assets 23,500 1,000,000 ,753,800 15 Liabilities & Stockholder Equity: 16 AP 4 Dividends Payable 48 Common Stuck 49 Retained Earnings 50 Total iabilities&Storkholder Fquity 51 52 53 Planned Purchases in Equipment: 54 Cash: 55 May 56 June 57 58 Company dedlas dividends of 18,750 each quarter, payable in the tirst month ot the following quarter 105,000 18,50 900,000 730,050 1,753,800 18,500 45,000 60 Minimum Cash Balance: 55,000 62 Company borrows 1,000 from bank at beginning of each month 631 Interest rate is 1% per month, nut compounded 64 65 AR 151,500$612,000 Beg. Balance SheetAssumptions Merchandise E - 3:36 PM O Type here to search