Printer Office Supply's March 31,2018 balance sheet follows:

The budget committee of Printer Office Supply has assembled the following data:

Printer Office Supply Balance Sheet March 31, 2018 Assets Current Assets Cash $ 35,000 Accounts Receivable 14,000 Merchandise Inventory 20,500 2,500 S 72,000 Prepaid Insurance Total Current Assets Property, Plant, and Equipment: Equipment and Fixtures Less: Accumulated Depreciation 55.000 (15,000) 40,000 Less: Accumulated Depreciation (15,000) 40,000 Total Assets $ 112,000 Liabilities Current Liabilities: Accounts Payable GA 18,000 2.025 Salaries and Commissions Payable Total Liabilities S 20.025 Stockholders' Equity Common Stock, no par 21,000 Retained Earnings 70.975 Total Stockholders' Equity 91.975 $ Total Liabilities and Stockholders' Equity 112,000 i More Info - X ens a. b. C. d. Sales in April are expected to be $60,000. Printer forecasts that monthly sales will increase 2% over April sales in May. June's sales will increase by 4% over April sales, July sales will increase 20% over April sales. Printer maintains inventory of $13,000 plus 25% of the cost of goods sold budgeted for the following month. Cost of goods sold equal 50% of sales revenue, Monthly salaries amount to $5,000. Sales commissions equal 5% of sales for that month. Other monthly expenses are as follows: - Rent: $2,200 Depreciation. $700 Insurance: $300 Income tax: $1,500 . i Requirements 1 1. Prepare Printer's sales budget for April and May 2018. Round all calculations to the nearest dollar. 2. Prepare Printer's inventory, purchases, and cost of goods sold budget for April and May. 3. Prepare Printer's selling and administrative expense budget for April and May Print Done Requirement 1. Prepare Printer's sales budget for April and May 2018 Round all amounts to the nearest dollar Printer Office Supply Sales Budget April and May, 2018 April May Total budgeted sales Requirement 2. Prepare Printer's inventory, purchases, and cost of goods sold budget for April and May Printer Supply Company Inventory, Purchases, and Cost of Goods Sold Budget April and May, 2018 April May Plus: Total merchandise inventory required Less Budgeted Purchases Requirement 3. Prepare Printer's selling and administrative expense budget for April and May. Printer Office Supply Selling and Administrative Expense Budget April and May, 2018 April May Variable expenses: Fixed expenses