Required: 1. Prepare a schedule of expected cash collections for July, August, and September. Also compute total cash collections for the quarter ended September 30 Schedule of Expected Cash Collections July August September Quarter From accounts receivable Sales on account: July August September Total cash collections 2a. Prepare a merchandise purchases budget for July, August, and September. Also compute total merchandise purchases for the quarter ended September 30. Merchandise purchases budget July AugustSeptember Quarter Budgeted cost of goods sold Total needs Required purchases 2b. Prepare a schedule of expected cash disbursements for merchandise purchases for July, August, and September. Also compute total cash disbursements for merchandise purchases for the quarter ended September 30th. Schedule of Cash Disbursements for Purchases July August September Total From accounts payable Purchase on account: July August September Total cash disbursements 3. Prepare an income statement for the quarter ended September 30, (Do not leave any empty spaces; input a 0 wherever it is required.) COLERAIN CORPORATION Income Statement For the Quarter Ended September 30 4. Prepare a balance sheet as of September 30. COLERAIN CORPORATION Balance Sheet September 30 Assets Total assets Liabilities and Shareholders' Equity Total liabilities and shareholders' equity