Problem 7-22A Cash Budget with Supporting Schedules [LO7-2, LO7-4, LO7-8]

Garden Sales, Inc., sells garden supplies. Management is planning its cash needs for the second quarter. The company usually has to borrow money during this quarter to support peak sales of lawn care equipment, which occur during May. The following information has been assembled to assist in preparing a cash budget for the quarter:

Can someone please help ASAP?

Problem 7-22A Cash Budget with Supporting Schedules LO7-2, LO7-4 LO7-8] Garden Sales, Inc., sells garden supplies. Management is planning its cash needs for the second quarter The company usually has to borrow money during this quarter to support peak sales of lawn care equipment, which occur during May. The following information has been assembled to assist in preparing a cash budget for the quarter: a. Budgeted monthly absorption costing income statements for April-July are May June July April 650,000 $ 770,000 $ 260,000 430,000 455,000 539,000 82,000 301,000 Sales Cost of goods sold Gross margin Selling and administrative expenses 195,000 231,000 78,000 129,000 31,000 Selling expense Administrative expense* 83,000 12,000 43,000 46,500 77,600 29,200 41,000 84,000 S 65,500 $ 41,400 $ 17,800$ 45,000 Total selling and administrative expenses 129,500 189,600 60,200 Net operating income "Includes $18,000 of depreciation each month