Q 4: Listed below are the account balances from the ledger of Milton compan! at October31. except for retained earnings. which is the October 1 balance. There are no assets or liabilities other than those listed. The dividends account represents the amount declared and paid during October . Required : 1. Compute the net income of Milton Company for October by preparing a balance sheet at October31 which includes details showing the beginning balance of retained earnings increases and decreasis and the ending balance. 2. "hat was the amount of toral sales for Ocwber, anumin! wat the accounts receivable amounted to S18000 on (leter 1. and that S80000 was receis ed in collectionsfrom customers and trom cash sales during October ? Show computation? 3. Determine the cost of goods sold for Oerober. assuming that inventor? of October 1 was S29000 and that October purchases of merchandise totaled S55000. What was the total of all other expenses for the month ? Show computations. 4. Determine the total cash oulay for merchandise during October. assuming that the beginning balance of accounts payable 1 as S 19000 and that October purchases of mereinandise (all on credit , amounted w S 55000 . Show computations