Problem 9-34 Reletlonshlps of the Mester-Budget Components (LO 9-3, 9-5, 9-6) Badlands inc. manufactures a household fan that sells for $20 per unit. All sales are on account, with 40 percent of sales collected in the month of sale and 60 percent collected in the following month. The data that follow were extracted from the company's accounting records. - Badands maintains a minimum cash balance of $32,000. Total payments in January 20x1 are budgeted at $275,000. - A schedule of cash collections for January and February of 20x1 revealed the following recelpts for the perloc: - March 20xi sales are expected to tot3l 10,500 units. - Finlshed-goods inventories are maintained at 20 percent of the following month's sales. - The December 31,200, balance sneet revealed the following selected figures: cash, $22,700; accounts recelvable, $1m,000; and finished goods, $22,650. Required: 1. Determine the number of units that Baclands sold in December 200. 2. Compute the sales revenue for March 201. 3. Compute the total sales revenue to be reported on Badands' budgeted income statement for the first quarter of 201. 4. Determine the accounts recelvable balance to be reported on the March 31,201, budgeted balance sheet. 5. Calculate the number of units in the December 31,200, finished-goods Inventory. 6. Calculate the number of units of finlshed goods to be manufactured in January 201. 7. Caiculate the financing required in January, lf any, to maintain the firm's minimum cash balance