Prepare sales budget, purchases budget, sales expense budget, administration budget, cash budget, forecast income statement

INFORMATION YOU ARE WORKING FOR REDKISS INC AND YOU NEED TO PREPARE THE MASTER BUDGET FOR JULY TO SEPTEMBER 2020 REDKISS INC Balance Sheet 30-06-2020 ASSETS Bank Accounts receivable Inventory Investment Equipment Acc. Depreciation - Equipment TOTAL ASSETS 25,000.00 $ 50,000.00 $ 67,000.00 $ 25,000.00 $ 125,000.00 $ (35,000.00) 257,000.00 $ LIABILITIES Accounts payable Bank Loan Income tax to pay TOTAL LIABILITIES 45,000.00 $ 6,500.00 $ 15,000.00 $ 66,500.00 $ OWNERS EQUITY Capital, June 30, 2020 TOTAL LIABILITIES+OWNERS EQUITY 190,500.00 $ 257,000.00 $ 2 SALES BUDGET - FORECAST JUNE JULY AUGUST SEPTEMBER OCTOBER FORECAST UNITS 10000 11650 9750 15000 14230 UNIT PRICE 14.00 $ 14.00 $ 14.00 $ 14.00 $ 14.00 $ 140,000.00 $ 163,100.00 $ 136,500.00 $ 210,000.00 $ 199,220.00 $ PURCHASES BUDGET - FORECAST STOCK TO SALES RATIO UNIT COST 90% 8.00 $ SALES EXPENSE BUDGET SALES COMMISSION % SALES DEPARTMENT SALARY 15% 5,000.00 $ ADMINISTRATION BUDGET ADMIN DEPARTMENT SALARY DEPRECIATION EXPENSE PUBLICITY EXPENSE PHONE EXPENSE ELECTRICITY EXPENSE 9,500.00 $ 1,250.00 $ 350.00 $ 95.00 $ 750.00 $ CASH BUDGET MINIMUM CASH INTEREST RATE - INVESTMENT INTEREST RATE - LOAN APRIL SALES MAY SALES CASH SALES 30 DAYS SALES 60 DAYS SALES 90 DAYS SALES 35,000.00 $ 5.75% 8.00% 145,000.00 $ 130,000.00 $ 20% 30% 25% 25%