PLEASE HELP ANSWER ASAP!!!! THANK YOU SO MUCH :)

The following data relate to the operations of Shilow Company, a wholesale distributor of consumer goods:

Current assets as of March 31:
Cash	$	8,700
Accounts receivable	$	24,800
Inventory	$	46,800
Building and equipment, net	$	116,400
Accounts payable	$	28,050
Capital stock	$	150,000
Retained earnings	$	18,650

a.	The gross margin is 25% of sales.
b.	Actual and budgeted sales data:

March (actual)	$62,000
April	$78,000
May	$83,000
June	$108,000
July	$59,000

c.

Sales are 60% for cash and 40% on credit. Credit sales are collected in the month following sale. The accounts receivable at March 31 are a result of March credit sales.

d.

Each months ending inventory should equal 80% of the following months budgeted cost of goods sold.

e.

One-half of a months inventory purchases is paid for in the month of purchase; the other half is paid for in the following month. The accounts payable at March 31 are the result of March purchases of inventory.

f.

Monthly expenses are as follows: commissions, 12% of sales; rent, $3,500 per month; other expenses (excluding depreciation), 6% of sales. Assume that these expenses are paid monthly. Depreciation is $873 per month (includes depreciation on new assets).

g.

Equipment costing $2,700 will be purchased for cash in April.

h.

Management would like to maintain a minimum cash balance of at least $4,000 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, up to a total loan balance of $20,000. The interest rate on these loans is 1% per month and for simplicity we will assume 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.

Using the data above:

Schedule of Expected Cash Collections
	April	May	June	Quarter
Cash sales	$46,800
Credit sales	24,800
Total collections	$71,600	$0	$0	$0

Merchandise Purchases Budget
	April	May	June	Quarter
Budgeted cost of goods sold	$58,500
Add desired ending inventory	49,800
Total needs	108,300	0	0	0
Less beginning inventory	46,800	49,800
Required purchases	$61,500	$(49,800)	$0	$0

Schedule of Expected Cash DisbursementsMerchandise Purchases
	April	May	June	Quarter
March purchases	$28,050			$28,050
April purchases	30,750	30,750		61,500
May purchases
June purchases
Total disbursements	$58,800	$30,750	$0	$89,550

Shilow Company
Cash Budget
	April	May	June	Quarter
Beginning cash balance	$8,700
Add cash collections	71,600
Total cash available	80,300	0	0	0
Less cash disbursements:
For inventory	58,800
For expenses	17,540
For equipment	2,700
Total cash disbursements	79,040	0	0	0
Excess (deficiency) of cash	1,260	0	0	0
Financing:
Borrowings
Repayments
Interest
Total financing	0	0	0	0
Ending cash balance	$1,260	$0	$0	$0

Shilow Company
Income Statement
For the Quarter Ended June 30
Sales
Cost of goods sold:
Beginning inventory
Purchases
Goods available for sale	0
Ending inventory		0
Gross margin		0
Selling and administrative expenses:
Commissions
Rent
Depreciation
Other expenses
		0
Net operating income		0
Interest expense
Net income		0

Shilow Company
Balance Sheet
June 30
Assets
Current assets:
Cash
Account receivable
Inventory
Total current assets		0
Building and equipment-net
Total assets		$0
Liabilities and Stockholders Equity
Account payable
Stockholders' equity:
Common stock
Retained earnings
		0
Total liabilities and stockholders equity		$0