please help

G. 251 Acerbie Se Doo 112.500 ex. 12.000 Account Fabia Working Cine Nore Payable 5 5 Frant Equip POD.000 common ston 200.DOO BOG. 000 1036 1935.300 You are the Business Manager of Garden Sales, Inc and the bank has asked you to prepare a cash and earnings budget forecast and Pro-Forma Balance Sheet and Income Statement for the next quarter. After your discussion with the various departments, you have come up with the following information/assumptions: November 2017 and December 2017 sales were $100,000, each month Sales for the following three months will increase by $5,000 each month, beginning January through April Cost of sales represents 60% of sales, each month. Cash Operating Expenses are 10% of sales, exclusive of Depreciation expense Depreciation Expense is 58,000, per month and prepaid rent is amortired at $2.000 per month Of the month's sales, 25% is collected as cash with the remaining placed on customer's account Customer's accounts are usually paid off over a 2 month period (50% each month) beginning the month following the sale The CFO just informed you that one customer has filed bankruptcy therefore, $5,000 from Nov A/R Sales will be written off in tanto ad Debt Exp The company purchases 100% of the next month's cost of sales. They pay for G0%. In cash, in the month they purchase and pay the remaining 40% in the following month In March, the company is planning on replacing an outdated machine. The new machine will cost $30,000. The old machine originally cost 525.000, with a Net Book Value of $7,500 and will be sold for $5,000 The Company does not pay or accrue for taxes until the end of December The Company plans to pay a cash dividend of S15,000 at the end of March Assume all operating expenses incurred during the month are paid, in cash, during the same month incurred The Note Payable requires a principal payment of $15,000, plus interest of SSCO, at the end of March. For this note, no interest is Accrual/Expense until interest is paid The minimum cash month end balance required according to the bank agreement is $75,000 for any given month beginning Jan 30 2018 A working capital line of credit is available, up to $100,000, and if needed, money is taken out at the beginning of the month Interest is 1% per month Interest is paid on the working capital fine when principal payments are paid on the debt; at the end of any given month. Interest is accrued on the working capitalline effective the beginning of the month when money is received 1. Prepare a detailed Cash Budget Forecast for each month of Jan Feb and March, 2018 2. Prepare an Income Statement for the 3-month period ending March 2018 (good form) 3. Prepare a Balance Sheet as of March 31. 2018 (rood form) Check Figures for 03/31 Net Income: mo) $60,849.19 Total Assets51.077.800.00 G. 251 Acerbie Se Doo 112.500 ex. 12.000 Account Fabia Working Cine Nore Payable 5 5 Frant Equip POD.000 common ston 200.DOO BOG. 000 1036 1935.300 You are the Business Manager of Garden Sales, Inc and the bank has asked you to prepare a cash and earnings budget forecast and Pro-Forma Balance Sheet and Income Statement for the next quarter. After your discussion with the various departments, you have come up with the following information/assumptions: November 2017 and December 2017 sales were $100,000, each month Sales for the following three months will increase by $5,000 each month, beginning January through April Cost of sales represents 60% of sales, each month. Cash Operating Expenses are 10% of sales, exclusive of Depreciation expense Depreciation Expense is 58,000, per month and prepaid rent is amortired at $2.000 per month Of the month's sales, 25% is collected as cash with the remaining placed on customer's account Customer's accounts are usually paid off over a 2 month period (50% each month) beginning the month following the sale The CFO just informed you that one customer has filed bankruptcy therefore, $5,000 from Nov A/R Sales will be written off in tanto ad Debt Exp The company purchases 100% of the next month's cost of sales. They pay for G0%. In cash, in the month they purchase and pay the remaining 40% in the following month In March, the company is planning on replacing an outdated machine. The new machine will cost $30,000. The old machine originally cost 525.000, with a Net Book Value of $7,500 and will be sold for $5,000 The Company does not pay or accrue for taxes until the end of December The Company plans to pay a cash dividend of S15,000 at the end of March Assume all operating expenses incurred during the month are paid, in cash, during the same month incurred The Note Payable requires a principal payment of $15,000, plus interest of SSCO, at the end of March. For this note, no interest is Accrual/Expense until interest is paid The minimum cash month end balance required according to the bank agreement is $75,000 for any given month beginning Jan 30 2018 A working capital line of credit is available, up to $100,000, and if needed, money is taken out at the beginning of the month Interest is 1% per month Interest is paid on the working capital fine when principal payments are paid on the debt; at the end of any given month. Interest is accrued on the working capitalline effective the beginning of the month when money is received 1. Prepare a detailed Cash Budget Forecast for each month of Jan Feb and March, 2018 2. Prepare an Income Statement for the 3-month period ending March 2018 (good form) 3. Prepare a Balance Sheet as of March 31. 2018 (rood form) Check Figures for 03/31 Net Income: mo) $60,849.19 Total Assets51.077.800.00