please help

You have just been hired as a new management trainee by Earrings Unlimited, a distributor of earrings to various retal outlets located in shopping malls across the country. In the past, the company has done very little in the way of budgeting and at certain times of the year has experienced a shortage of cash. Since you are well trained in budgeting, you have decided to prepare a master budget for the upcoming second quarter. To this end, you have worked with accounting and other areas to gather the information assembled below. The company sells many styles of earrings, but all are sold for the same price- $10 per pair. Actual sales of earrings for the last three: months and budgeted sales for the next six months follow (in pairs of earrings): The concentration of sales before and during May is due to Mother's Day. Sufficlent inventory should be on hand at the end of each month to supply 40% of the eartings sold in the following month. Suppliers are poid $4 for a pair of earrings. One-half of o month's purchases is paid for in the month of purchase; the other half is paid for in the following month. All sales are on credit. Only 20% of a month's salos are collected in the month of saie. An additional 70% is collected in the following month, and the remaining 10% is collected in the second month following sale. Bod debts hove been negligible. Monthly operating expenses for the company are given below: Insurance is paid on an annual basis, in November of each year. The company plans to purchase $16,000 in new equigment during May and $40,000 in naw equipment during June; both purchases Wh be for cash. The compeny declares dividenas of $15,000 each quarter, payable in the first month of the following quarter The company's balance sheet as of Mareh at is given below. The compary mointains a minimum cash balance of $50,000. All borrowing is done at the beginning of a month; any repayments are made at the end of a month The compony has an agreement with a 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 18 per month and for simplicity we wilt assume that interest is not compounded. At the end of the quarter, the company would pay the bank all of the accumulated interest on the loan and as much of the loan as possible (in increments of $1,000, while still retaining at least $50.000 in cash. Requirect: Prepore a master budget for the three-menth period ending June 30 , include the following detaiked schedules: 1. 0. A sables budget, ty moivth and in total b. A schedule of expected cash collections, by month and in tolal c. A merchandise purchases budget in units and in dollars, show the budget by month and in total. d. A schedule of expecied cosh distursements for merchandise purchases. by month and in total 2. A cosh budget Show the budget by month and in total, Determine any borrowing that would be needed to maintain the minimum cash balance of 550,000 1. A budgeted income statement for the three-month period end nf fume 30 . Use the contribution approach 4. A budgeted balence sheet as of June 30