Please Explain With Explanation

Franklin, Incorporated sells fireworks. The company's marketing director developed the following cost of goods sold budget for April, May. June, and July: Franklin had a beginning inventory balance of $3,000 on April 1 and a beginning balance in accounts payable of $15,800. The company desires to maintain an ending imventory balance equal to 20 percent of the next period's cost of goods sold. Frankin makes. all purchases on account. The company pays 70 percent of accounts payable in the month of purchase and the remaining 30 percent in the month following purchase. Required a. Prepare an inventory purchases budget for Apri, May, and June. b. Determine the amount of ending inventory Franklin will report on the end-of-quarter pro forma bolance sheet. c. Prepare a schedule of cash payments for inventory for April, May, and June. d. Determine the balance in accounts payable Franklin will report on the end-of-quarter pro forma balance sheet a. Prepare an inventory purchases budget for April, May, and June. b. Determine the amount of ending inventory Franklin will report on the end-of-quarter pro forma balance sheet. c. Prepare a schedule of cash payments for inventory for April, May, and June. d. Determine the balance in accounts payable Franklin will report on the end-of-quarter pro forma balance sheet. Complete this question by entering your answers in the tabs below. Prepare an inventory purchases budget for April, May, and June. a. Prepare an inventory purchases budget for April, May, and June. b. Determine the amount of ending inventory Franklin will report on the end-of-quarter pro forma balance sheet. c. Prepare a schedule of cash payments for inventory for April, May, and June. d. Determine the balance in accounts payable Franklin will report on the end-of-quarter pro forma balance sheet Complete this question by entering your ansuters in the tabs below. Determine the amount of ending inventory Franklin will report on the end-of-quarter pro forma balance sheet. a. Prepare an inventory purchases budget for April, May, and June. . Determine the amount of ending inventory Franklin will report on the end-of-quarter pro forma balance sheet. c. Prepare a schedule of cash payments for inventory for April, May, and June. d. Determine the balance in accounts payable Franklin will report on the end-of-quarter pro forma balance sheet. Complete this question by entering your answers in the tabs below. Prepare a schedule of cash payments for inventory for April, May, and June. Note: Round your final answers to the nearest whole dollar. a. Prepare an inventory purchases budget for April, May, and June. b. Determine the amount of ending inventory Franklin will report on the end-of-quarter pro forma balance sheet. c. Prepare a schedule of cash payments for inventory for April, May, and June. d. Determine the balance in accounts payable Franklin will report on the end-of-quarter pro forma balance sheet. Complete this question by entering your answers in the tabs below. Determine the balance in accounts payable Franklin will report on the end-of-quarter pro forma balance sheet