please help find and explain how to find retained earnings and cash for 4

Deacon Company is a merchandising company that is preparing a budget for the three-month period ended June 30th. The following information is available Deacon Company Balance Sheet March 31 Assets Cash Accounts receivable Inventory Buildings and equipment, net of depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total liabilities and stockholders' equity $ 62,000 43,600 46,000 107, eee $ 258,600 $ 63,600 70,000 125,000 $ 258,600 Budgeted Income Statements April Sales $120,000 Cost of goods sold 72,000 Gross margin 48, eee Selling and administrative expenses_24,900 Net operating income $ 23,100 May $130, eee 78,000 52,000 26,400 $ 25,600 June $150, eee 90, eee 60, eee 29, 480 $ 30,600 Budgeting Assumptions: a. 60% of sales are cash sales and 40% of sales are credit sales. Twenty percent of all credit sales are collected in the month of sale and the remaining 80% are collected in the month subsequent to the sale. b. Budgeted sales for July are $160,000. C. 10% of merchandise inventory purchases are paid in cash at the time of the purchase. The remaining 90% of purchases are credit purchases. All purchases on credit are paid in the month subsequent to the purchase. The accounts payable at March 31 will be paid in April. d. Each month's ending merchandise inventory should equal $10,000 plus 50% of the next month's cost of goods sold. e. Depreciation expense is $1,900 per month. All other selling and administrative expenses are paid in full in the month the expense is incurred. Required 1 Required 2 Required 3 Required 4 Prepare a budgeted balance sheet at June 30th. (Hint: You need to calculate the cash paid for selling and administrative expenses during April, May, and June to determine the cash balance in your June 30th balance sheet.) Deacon Company Balance Sheet June 30 Assets Cash Accounts receivable Buildings and equipment (net) of depreciation inventory 48,000 101,300 58.000 $ 207,300 Total assets Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings $ 83.700 70,000 Total liabilities and stockholders' equity $ 153.700