please help :( im stuck

Hillyard Company, an office supplies specialty store, prepares its master budget on a quarterly basis. The following data have been assembled to assist in preparing the master budget for the first quarter: a. As of December 31 (the end of the prior quarter), the company's general ledger showed the following account balances: Cash Accounts receivable Inventory Buildings and equipment (net) Accounts payable Common stock Retained earnings $ 48,000 206,400 58,950 358,000 $ 87,525 500,000 83,825 $ 671,350 $ 671,350 b. Actual sales for December and budgeted sales for the next four months are as follows: December (actual) January February March April $258,000 $393,000 $590,000 $304,000 $ 201,000 c. Sales are 20% for cash and 80% on credit. All payments on credit sales are collected in the month following sale. The accounts receivable at December 31 are a result of December credit sales. d. The company's gross margin is 40% of sales. (In other words, cost of goods sold is 60% of sales.) e. Monthly expenses are budgeted as follows: salaries and wages, $23,000 per month: advertising, $63,000 per month; shipping, 5% of sales; other expenses, 3% of sales. Depreciation, including depreciation on new assets acquired during the quarter, will be $43,380 for the quarter. f. Each month's ending inventory should equal 25% of the following month's cost of goods sold. g. One-half of a month's inventory purchases is paid for in the month of purchase; the other half is paid in the following month. h. During February, the company will purchase a new copy machine for $1,800 cash. During March, other equipment will be purchased for cash at a cost of $74,000. i. During January, the company will declare and pay $45,000 in cash dividends. j. Management wants to maintain a minimum cash balance of $30,000. 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. 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. Required: Using the data above, complete the following statements and schedules for the first quarter: 1. Schedule of expected cash collections: 2-a. Merchandise purchases budget: 2-b. Schedule of expected cash disbursements for merchandise purchases: 3. Cash budget: 4. Prepare an absorption costing income statement for the quarter ending March 31. 5. Prepare a balance sheet as of March 31. Required 1 Required 2A Required 2B Required 3 Required 4 Required 5 Complete the Schedule of expected cash collections: Quarter Schedule of Expected Cash Collections January February March $ 78,600 $ 118,000 $ 60,800 206,400 472,000 243,200 Cash sales $ 257,400 921,600 Credit sales Total collections $ 285,000 $ 590,000 $ 304,000 1,179,000 Required 1 Required 2A > Required 1 Required 2A Required 2B Required 3 Required 4 Required 5 Complete the merchandise purchases budget: Merchandise Purchases Budget Quarter 0 0 January February March Budgeted cost of goods sold $235,800* $ 354,000 Add desired ending inventory 88,500+ Total needs 324,300 354,000 Less beginning inventory 58,950 Required purchases $ 265,350 $ 354,000 $ *$393,000 sales 60% cost ratio = $235,800. +$354,000 ~ 25% = $88,500. 0 $ 0 Required 1 Required 2A Required 2B Required 3 Required 4 Required 5 Complete the schedule of expected cash disbursements for merchandise purchases. Schedule of Expected Cash Disbursements for Merchandise Purchases January February March Quarter December purchases $ 87,525 $ 87,525 January purchases 132,675 132,675 265,350 February purchases 0 March purchases Total cash disbursements for purchases $ 220,200 $ 132,675 $ 0 $ 352,875