Please Prepare a Cash Budget! Thank you!

Zachary Company's management asks you to prepare its master budget using the following information. The budget is to cover the months of April, May, and June of 2019. Zachary Company Balance Sheet March 31, 2019 Assets Cash Accounts Receivable Raw Materials Inventory Finished Goods Inventory Total Current Assets Equipment Less: Accumulated Depreciation Equipment, Net Total Assets 50,000 175,000 69,850 107,812 402,662 500,000 -90,000 410,000 812,662 Liabilities & Equity Accounts Payable Short-Term Notes Payable Total Current Liabilities Long-Term Notes Payable Total Liabilities Common Stock Retained Earnings Total Equity Total Liabilities and Equity 63,725 15,000 78,725 200,000 278,725 435,000 98,937 533,937 812,662 Additional Information: A. Sales for March total 10,000 units. Expected sales (in units) are 12,500 (April), 10,500 (May), 9,000 (June), and 8,500 (July). The product's selling price is $25 per unit. B. Company policy calls for a given month's ending finished goods inventory to equal 75% of the next month's expected unit sales. The March 31 finished goods inventory is 9,375 units, which complies with the policy. The product's manufacturing cost is $11.50 per unit, including per unit costs of $6.35 for materials (0.5 lbs at $12.70 per lb), $3.75 for direct labor (0.25 hour x $15 direct labor hour rate per hour). $0.90 for variable overhead, and $0.50 for fixed overhead. Fixed overhead consists entirely of $5,000 of monthly depreciation expense. Company policy also calls for a given month's ending raw materials inventory to equal 50% of next month's expected materials needed for production. The March 31 inventory is 5,500 units of materials, which complies with the policy. The company expects to have 2,100 of materials Inventory on June 30. C. Sales Representatives' commissions are 12% of sales are paid in the month of sales. The sales manager's monthly salary will be $3,500 in April and $4,000 per month thereafter. D. Monthly general and administrative expenses include $8,000 administrative salaries and 0.9% monthly interest on the long-term note payable. E. The company expects 20% of sales to be for cash and the remaining 80% on credit. Receivables are collected in full in the month following the sale (none are collected in the month of the sale). F. All direct materials purchases are on credit, and not payables arise from any other transactions. One month's purchases are fully paid in the next month. Materials cost $12.70 per pound. G. The minimum ending cash balance for all months is $50,000. If necessary, the company borrows enough cash using a short-term note to reach the minimum. Short-term notes require an interest payment of 1% at each month-end (before any repayment). If the ending cash balance exceeds the minimum, the excess will be applied to repaying the short-term notes payable balance. H. Dividends of $100,000 are to be declared and paid in May. I. No cash payments for income taxes are to be made during the second calendar quarter. Income taxes will be assessed at 35% in the quarter. J. Equipment purchases of $55,000 are scheduled for June