Preferably with steps through excel , thank you in advance

Minden Company is a wholesale distributor of premium European chocolates. The company's balance sheet as of April 30 is given below. The company is in the process of preparing a budget for May and has assembled the following data: a. Sales are budgeted at $296.000 for May. Of these sales, $88,800 will be for cashi the remainder. will be crecit sales. One half ofa month's credit sales are collected in the month the sales are made, and the remainder is collected in the following month. All of the April 30 accounts receivable will be collected in May. b. Purchases of inventofy are expected to total \$192.000 during May These purchases wit alf be on account. Foity percent of all purchases are paid for in the month of purchase; the remainder are paid in the following month. All of the Apir 30 accounts payable to suppliers will be pald during May. c. The May 31 inventory balance is budgeted at $51,500. d. Seling and administrative expenses for Moy are budgeted at $98700 exclusive of depreciation. These expenses will be paiding cash. Depreciation is budgeted at $2150 for the month. e. The note payabie on the Apu 30 balance sheet will be paid duning Moy with $220 in interest (Air of the interestrelates to May? 1. New refrigerating equipment costing $6,800 will be purchosed for cash during May. 9. During May, the company will borrow $23.200 trom its bank by giving o new note poyable to ihe bank for that anount the new. note will be due in one year. Required: 1. Calculote the expected cash collections from customers for May 2 Calculate the expected cash disbutsements for inerchanolse purchases for May 3. Prepare a cash budget for May. 4. Prepare a budgeted income statement for May 5. Prepare a budgeted bolance sheet as of May 31