Pls double check the ratios. If it's not correct pls send the correct work over

3:067 10 LTE Ratios Dailixter boxing company Sales Budget For the Quarter Ending, March 31, 2023 Month For the Jan Feb Mar Quarter Budgeted Unit Sales 7,500 9,000 11,000 27,500 Sales price per unit 55 $ 55 $ 55 $ 55 Total Sales 412,500 $ 495,000 $ 605,000 $ 1,512,500 Ballixter Boxing Company Purchases Budget For the Quarter Ending, March 31, 2023 Month For the Particulars Jan Feb Mar Quarter Unit Sales 7,500 9,000 11,000 27,500 Planned Ending Inventory 1,800 2,200 2,000 2,000 Total Production Required 9,300 11,200 13,000 29,500 Beginning Inventory of Finished Goods 5,000 1,800 2,200 5,000 Units to be Purchased 4,300 9,400 10,800 24,500 Cost per Unit 20 $ 20 $ 20 $ 20 Total Cost of Purchases 86,000 $ 188,000 $ 216,000 490,000 Ballixter Boxing Company Selling Expenses Budget For the Quarter Ending, March 31, 2023 Month For the Jan Feb Mar Quarter Selling Expenses Commissions 82,500 $ 99,000 $ 121,000 $ 302,500 Salaries 8,000 $ 8,000 $ 8,000 24,000 Total Selling Expenses 90,500 $ 107,000 $ 129,000 $ 326,500 Ballixter Boxing Company General and Administrative Expenses Budget For the Quarter Ending, March 31, 2023 Month For the Jan Feb Mar Quarter General and Administrative Expenses General and Administrative Salaries 13,000 $ 13,000 $ 13,000 $ 39,000 Maintenance Expenses 2,100 2,100 2,100 6,300 Depreciation Expense Equipment (Jan 2022) 5,677 $ 5,677 $ 5,677 $ 17,031 Equipment (Jan 2023) 365 365 365 1,094 Equipment (Feb 2023) 1,010 1,010 2,021 Equipment (Mar 2023) 302 302 Interest Expense 160 160 Total General and Administrative Expenses 21,302 $ 22,152 $ 22,454 65,908 Ballixter Boxing Company Capital Expenditure Budget For the Quarter Ending, March 31, 2023 Month For the Jan Feb Mar Quarter Capital Expenditures Equipment Purchases Equipment (Jan 2023) 35,000 35,000 Equipment (Feb 2023) 97,000 97,000 Equipment (Mar 2023) 29,000 29,000 Land 180,000 180,000 Total Capital Expenditures $ 35,000 $ 97,000 209,000 $ 341,000 1113:051 Ol LTE Ballixter Boxing Company Sales Budget For the Quarter Ending, March 31, 2023 Month For the Jan Feb Mar Quarter Budgeted Unit Sales 7,500 9,000 11,000 27,500 Sales price per unit 55 $ 55 $ 55 $ 55 Total Sales 412,500 $ 495,000 $ 605,000 $ 1,512,500 Ballixter Boxing Company Purchases Budget For the Quarter Ending, March 31, 2023 Month For the Particulars Jan Feb Mar Quarter Unit Sales 7,500 9,000 11,000 27,500 Planned Ending Inventory 1,800 2,200 2,000 2,000 Total Production Required 9,300 11,200 13,000 29,500 Beginning Inventory of Finished Goods 5,000 1,800 2,200 5,000 Units to be Purchased 4,300 9,400 10,800 24,500 Cost per Unit 20 $ 20 $ 20 20 Total Cost of Purchases 86,000 188,000 $ 216,000 $ 490,000 Ballixter Boxing Company Selling Expenses Budget For the Quarter Ending, March 31, 2023 Month For the Jan Feb Mar Quarter Selling Expenses Commissions 82,500 $ 99,000 $ 121,000 $ 302,500 Salaries 8,000 $ 8,000 $ 8,000 24,000 Total Selling Expenses 90,500 $ 107,000 129,000 $ 326,500 Ballixter Boxing Company General and Administrative Expenses Budget For the Quarter Ending, March 31, 2023 Month For the Jan Feb Mar Quarter General and Administrative Expenses General and Administrative Salaries 13,000 $ 13,000 $ 13,000 $ 39,000 Maintenance Expenses 2,100 $ 2,100 $ 2,100 6,300 Depreciation Expense Equipment (Jan 2022) 5,677 $ 5,677 $ 5,677 $ 17,031 Equipment (Jan 2023) 365 365 365 1,094 Equipment (Feb 2023) 1,010 1,010 2,021 Equipment (Mar 2023) 302 302 Interest Expense 160 160 Total General and Administrative Expenses 21,302 $ 22,152 22,454 $ 65,908 Ballixter Boxing Company Capital Expenditure Budget For the Quarter Ending, March 31, 2023 Month For the Jan Feb Mar Quarter Capital Expenditures Equipment Purchases Equipment (Jan 2023) $ 35,000 35,000 Equipment (Feb 2023) $ 97,000 97,000 Equipment (Mar 2023) 29,000 29,000 Land 180,000 180,000 Total Capital Expenditures $ 35,000 $ 97,000 209,000 S 341,000Done Group Orange B Project... Q Q April 15. 20f2 Summer 2022 Group Project I Requirements: Prepare a master budget for each of the rst three months of 2023; include the following component budgets (show supporting calculations as needed directly behind that budget, and round amounts to the nearest dollar): 1.) Monthly sales budgets (showing both budgeted unit sales and dollar sales). 2.) Monthly merchandise purchases budgets. 3.) Monthly selling expense budgets. 4.) Monthly general and administrative expense budgets. 5.) Monthly capital expenditures budgets. 6.) Monthly cash budgets. 7.) Budgeted income statement for the entire rst quarter (not for each month). 8.) Budgeted balance sheet as of March 3 l, 2023 9.) Prepare a written analysis summarizing your ndings. Please include: i.) Financial ratios in your discussion of the company's nancial position. ii.) What accounting recommendations do you have for the new company? iii.) What business recommendations do you have to help the new company? iv.) what did you learn from preparing a Master Budget? Do you nd this to be an easy or challenging project? Why? Gather each member's thoughts and report separately. v.) Do you feel you could prepare a master budget for a company on your own? Gather each member's thoughts and report them separately, not as a group consensus. Reports should be neatly compiled in the above order and include a cover page with all team member names. Grading Criteria Spelling, grammar, and formatting errors reduce the grade by one point each. Projects can initially be completed in Google Docs, Microso Excel, Word, or other word or spreadsheet soware. Regardless of how your project was initially created, each of the above items shall then be posted as a page in Canvas within your group in the exact order as above. This group project is worth 130 points of your overall grade. Participation by all members is absolutely required. Your grade on these projects will be composed of a group grade (determined by your instructor) and an individual grade (determined by your group members). How the assignment is divided up is up to each group, however each student must present a portion on the recorded presentation. Each group member should also present at least one item from requirement number 9 above. The entire recorded presentation must be completed using Pronto only. You will be assessed on your collaboration so it must be done using Pronto also. On the due date, you will submit a condential peer evaluation form for which you will grade each of your team members. You will also be posting your progress, etc. .. in the Discussion by your respective Group. You may not change groups. Late or incomplete projects wit! not be accepted. You are welcome to complete and turn in early. Due: Wednesday. August 17 at 11:59 gm. 3:067 10 LTE Ratios Total selling and administrative expenses 392,408 Net Income before Tax 570,092 en en en e Less Income Tax (32%) (182,429) Net Income 387,663 Ballixter Boxing Company Balance Sheet March 31, 2023 March 31, December 31, 2023 2022 ASSETS Current Assets Cash 203,390 $ 37,000 Accounts Receivable 572,550 520,000 Inventory 40,000 $ 100,000 Total current assets 815,940 $ 657,000 Non-current Assets Land 180,000 Equipment 706,000 $ 545,000 Accumulated Depreciation (88,573) $ (68,125) Total Non-current assets 797,427 $ 476,875 TOTAL ASSETS $ 1,613,367 $ 1,133,875 LIABILITIES AND SHAREHOLDER'S EQUITY Liabilities Accounts Payable 366,400 $ 350,000 Bank Loan Payable 16,000 Taxes Payable 182,429 91,000 Total Liabilities 548,829 $ 457,000 Shareholder's Equity Common Stock 472,000 $ 472,000 Retained Earnings 592,538 204,875 Total shareholder's equity 1,064,538 $ 676,875 TOTAL LIABILITIES AND SHAREHOLDER'S EQUITY 1,613,367 $ 1,133,875 Contribution Marain 1113:067 Ol LTE Ratios Contribution Margin Sales $ 1,512,500 COGS $ (550,000) Commission (302,500) Contribution Margin 660,000 Operating Leverage Contribution Margin 660,000 Divide by: Net Income 387,663 Operating Leverage 1.70 Gross Profit Margin Ratio Gross Profit 962,500 Divide by Net Sales $ 1,512,500 Gross Profit Margin Ratio 63.64% Profit Margin Ration Net Income 387,663 Divide by: Net Sales $ 1,512,500 Profit Margin Ration 25.63% Times Interest Earned Ratio Income before interest and taxes 570,252 Interest Expense 160 Times Interest Earned Ratio 3,564.08 Return on Common Stockholders Equity Net Income 387,663 Average common stockholders equity 472,000 Return on Common Stockholders Equity 0.82Done Group Orange B Project... Q Q ACCT C102 Group Orange B Group Project I: Master Budget Near the end of 2022, the management of Ballixter Boxing Co., a merchandising company, prepared the following estimated balance sheet for December 31, 2022. BAI.1.]XTER BOX]NG CONIPANY Estimated Balance Sheet December 31, 2022 Assets Liabilities and Equity Cash $37,000 Accounts payable $350,000 Accounts receivable 520,000 Bank loan payable 16,000 Taxes payable (due Inventory w 3,15,2023) w Total current assets 657,000 Total liabilities $457,000 Equipment $545,000 Common stock 472,000 Less \"Fc'imula'ed 68,125 476,875 Retained earnings 204,875 depreciation Total stockholders' equity 676,875 Total assets $1,133,875 Total liabilities and equity $1,133,375 To prepare a master budget for January, February, and March of 2023, management gathers the following information. a. Ballixter Boxing's single product is purchased for $20 per unit and resold for $55 per unit. The expected inventory level of 5,000 units on December 31, 2022, is more than management's desired level for 2023, which is 20% of the next month's expected sales (in units). Expected sales are: January, 7,500 units; February, 9,000 units; March, 1 1,000 units; and April, 10,000 units. b. Cash sales and credit sales represent 25% and 75%, respectively, of total sales. Of the credit sales, 68% is collected in the rst month aer the month of sale and 32% in the second month aer the month of sale. For the December 31, 2022, accounts receivable balance, $125,000 is collected in January and the remaining $395,000 is collected in February. 1:. Merchandise purchases are paid for as follows: 20% in the rst month aer the month of purchase and 80% in the second month alter the month of purchase. For the December 3 1, 2022, accounts payable balance, $85,000 is paid in January and the remaining $265,000 is paid in February. d. Sales commissions equal to 20% of sales are paid each month. Sales salaries (excluding commissions) are $96,000 per year. 2. General and administrative salaries are $156,000 per year. Maintenance expense equals $2,100 per month and is paid in cash. 1'. Equipment reported in the December 31, 2022, balance sheet was purchased in January 2022. It is being depreciated over eight years under the straight-line method with no salvage value. The following amounts for new equipment purchases are planned in the coming quarter: January, $35,000; February, $97,000; and March, $29,000. This equipment will be depreciated under the straightline method over eight years with no salvage value. A full month's depreciation is taken for the month in which equipment is purchased. g. The company plans to acquire land at the end of March at a cost of $180,000, which will be paid with cash on the last day of the month. It. Ballixter Boxing has a working arrangement with its bank to obtain additional loans as needed. The interest rate is 12% per year, and interest is paid at each month-end based on the beginning balance. Partial or full payments on these loans can be made on the last day of the month. The company has agreed to maintain a minimum ending cash balance of $23,365 in each month. i. The income tax rate for the company is 32%. Income taxes on the first quarter's income will not be paid until April 15. Summer 2022 Group Project 1 Requirements: Q 3:067 10 LTE Ratios Ballixter Boxing Company Cash Budget For the Quarter Ending, March 31, 2023 Month For the Jan Feb Mar Quarter Beginning Cash Balance 37,000 23,365 $ 251,190 $ 37,000 Add Collection from Sales 2022 December 2022 Credit Sales $ 125,000 $ 395,000 $ 520,000 2023 January 2023 Cash Sales $ 103,125 103,125 January 2023 Credit Sales 210,375 $ 99,000 309,375 February Cash Sales 123,750 123,750 February Credit Sales 252,450 252,450 March Cash Sales 151,250 151,250 Total Collections $228,125 $ 729,125 $ 502,700 $ 1,459,950 Less: Disbursements Purchases December 2022 $ 85,000 265,000 350,000 January 2023 17,200 68,800 86,000 February 2023 37,600 37,600 Total Purchases Disbursements 85,000 282,200 106,400 473,600 Selling Expenses 90,500 107,000 129,000 326,500 General and Administrative Expenses 15,260 15,100 15,100 45,460 Capital Expenditures 35,000 $ 97,000 209,000 341,000 Taxes Paid 91,000 $ 91,000 Total Disbursements $ 225,760 $ 501,300 $ 550,500 $ 1,277,560 Cash Balance 39,365 $ 251,190 $ 203,390 $ 219,390 Minimum Cash Balance Required 23,365 23,365 23,365 23,365 Excess Cash (Cash for Financing) 16,000 227,825 180,025 196,025 Loan Acquisition (Payment) (16,000) $ (16,000) Net Cash Balance 23,365 $ 251,190 S 203,390 S 203,390 Ballixter Boxing Company Income Statement For the Quarter Ending, March 31, 2023 Sales $ 1,512,500 Cost of Goods sold Beginning Inventory 100,000 Purchases 490,000 Total goods available for sale 590,000 Less Ending Inventory (40,000) $ (550,000) Gross Profit 962,500 Selling Expenses Commissions 302,500 Salaries 24,000 Total Selling Expenses 326,500 General and Administrative Expenses Salaries 39,000 Maintenance Expenses 6,300 Depreciation Expense 20,448 Interest Expense 160 Total Administrative Expenses 65,908 Total selling and administrative expenses 392,408 Net Income before Tax 570,092 en en en en Less Income Tax (32%) (182,429) Net Income 387,663Contribution Margin Sales 1,512,500 COGS (550,000) Commission (302,500) Contribution Margin 660,000 Operating Leverage Contribution Margin 660,000 Divide by: Net Income 387,663 Operating Leverage 1.70 Gross Profit Margin Ratio Gross Profit 962,500 Divide by Net Sales $ 1,512,500 Gross Profit Margin Ratio 63.64% Profit Margin Ration Net Income 387,663 Divide by: Net Sales 1,512,500 Profit Margin Ration 25.63% Times Interest Earned Ratio Income before interest and taxes 570,252 Interest Expense 160 Times Interest Earned Ratio 3,564.08 Return on Common Stockholders Equity Net Income 387,663 Average common stockholders equity 472,000 Return on Common Stockholders Equity 0.82