Prepare sales budget, cash receipts budget, purchases budget, cash disbursements budget, summary cash budget, calculation of required short$-$term borrowing. Then prepare Intercoastal Electronics$$ budgeted income statement for the first quarter of $20$x$1$; budgeted statement of retained earnings for the first quarter of $20$x$1$; and budgeted balance sheet as of March $31,20$x$1.$