Prepare a cash budget for April, May, and June as well as in total for the quarter. Note: Cash deficiency, repayments and Interest should be indicated by a minus sign. Sarden Sales, Incorporated, usuaily has to borrow money during the second quarter to support peak sales of lawn care equipment during May It gathered the following information to prepare a cash budget for the quarter: a. Budgeted monthly absorption costing income statements for April-July are: Complete this question by entering your answers in the tabs below. Prepare the following for merchandise inventory, a merchandise purchases budget for April, May, and June. Beginning cash balance Add collections from customers Total cash avaliable Less cash disbursements Purchases for inventory Selling expenses Administrative expenses Land purchases Dividends paid Total cash disbursements Excess (deficiency) of cash avaliable over disbursements Financing Borrowings Repayment Interest Total financing Ending cash balance Complete this question by entering your answers in the tabs below. Prepare a schedule of expected cash collections for April, May, and June, and for the quarter in total. 3. Prepare a cash budget for April, May, and June as well as in total for the quarter. Complete this question by entering your answers in the tabs below. Prepare the following for merchandise inventory, a schedule of expected cash disbursements for merchandise purchases for April, May, and June, and for the quarter in total. b. Sales are 20% for cash and 80% on account. c. Sales on account are collected over a three-month period with 10% collected in the month of sale, 80% collected in the first month following the month of sale, and the remaining 10% collected in the second month following the month of sale February's sales totaled \$145,000, and March's sales totaled \$205,000. d. Inventory purchases are paid for within 15 days. Therefore, 50% of a month's inventory purchases are paid for in the month of purchase. The remaining 50% are paid in the following month. Accounts payable at March 31 for inventory purchases during March total $93100. e. Each month's ending inventory must equal 20% of the cost of the merchandise to be sold in the following month. The merchandise inventory at March 31 is $71,400. t. Dividends of $21,000 will be declared and paid in April g. Land costing $29000 will be purchased for cash in May h. The cash balance at March 31 is $43,000, the company must maintain a cash balance of at least $40.000 at the end of each month 1. The company has an agreemejt wath a local bank that allows the company to borrow in increments of $1.000 at the beginning of each month, up to a total loan balance of $200,000 The intecest rate or thesie loans is thi per month, and for smplicity we will assume 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