Please do Income statement and Cash flow.

Master Budget Project Congratulations! You have just been hired as controller for a growing company that manufactures green products. It is October 1 and time for creation of the budget for the next year. The budget will be created in quarters using each month as a period of sales/production. Your first task is to create the budget for the first quarter of 2016. This involves completing budgets for January, February, March and the first quarter in total for 2016. You seek out last year's data, recent costing information and follow up on important assumptions The CFO wants to see the first quarter budget before you complete the rest of the year, as adjustments may be needed. You will need to create the following sub-budgets as part of the overall master budget 1. Sales Budget for the 1st quarter 2. Production Budget for the 1st quarter 3. Materials Purchases Budget for the 1st quarter 4. Direct Labor Budget for the 1st quarter 5. Overhead Budget for the 1st quarter 6. Cash Receipts of Sales Revenue for the 1st quarter 7. Cash Payments for Material Purchases for the 15t quarter 8. Overall Cash Budget for the 15t quarter 9. Income Statement for the quarter ended March 31, 2016 10. Statement of Cash Flows for the quarter ended March 31, 2016 Several assumptions are needed to work into your models for computation. These are determined as follows and have been approved by the CFO. These are summarized on the following page Master Budget Project Congratulations! You have just been hired as controller for a growing company that manufactures green products. It is October 1 and time for creation of the budget for the next year. The budget will be created in quarters using each month as a period of sales/production. Your first task is to create the budget for the first quarter of 2016. This involves completing budgets for January, February, March and the first quarter in total for 2016. You seek out last year's data, recent costing information and follow up on important assumptions The CFO wants to see the first quarter budget before you complete the rest of the year, as adjustments may be needed. You will need to create the following sub-budgets as part of the overall master budget 1. Sales Budget for the 1st quarter 2. Production Budget for the 1st quarter 3. Materials Purchases Budget for the 1st quarter 4. Direct Labor Budget for the 1st quarter 5. Overhead Budget for the 1st quarter 6. Cash Receipts of Sales Revenue for the 1st quarter 7. Cash Payments for Material Purchases for the 15t quarter 8. Overall Cash Budget for the 15t quarter 9. Income Statement for the quarter ended March 31, 2016 10. Statement of Cash Flows for the quarter ended March 31, 2016 Several assumptions are needed to work into your models for computation. These are determined as follows and have been approved by the CFO. These are summarized on the following page