Required 1 Required 2 Required 3 Required 4 Required 5 Required 6 Required 7 Required 8 Cash budgets. (Negative balances and Loan repayment amounts (if any) should be indicated with minus sign.) DIMSDALE SPORTS COMPANY Cash Budget January February March Beginning cash balance $ 221,250 Add: Cash receipts from sales Total cash available 221,250 442,500 697,000 489,500 Less: Cash payments for: Merchandise purchases 80,000 302,800 147,600 Sales commissions 44,250 x 139,400 x 97,900 x Sales salaries 5,000 5,000 5,000 General and administrative salaries 12,000 12,000 12,000 Maintenance 2,000 2,000 2,000 Loan interest 0 0 Taxes 0 0 0 Purchases of equipment Purchase of land 36,000 96,000 28,800 0 0 150,000 Total cash payments Preliminary cash balance Additional loan (loan repayment) Ending cash balance Loan balance - Beginning of month Additional loan (loan repayment) Loan balance - End of month 179,250 557,200 443,300 52,000 x 192,800 239,000 $ 192,800 $ 239,000 Loan balance January February March $ 0 0 $ 0 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Required 6 Required 7 Required 8 Budgeted income statement for entire quarter (not monthly) ended March 31. DIMSDALE SPORTS COMPANY Budgeted Income Statement For Three Months Ended March 31 Sales Cost of goods sold Gross profit Selling, general and administrative expenses Sales salaries expense Sales commissions expense General administrative salaries expense Maintenance expense Depreciation expense Loan interest expense Total operating expenses Income before income taxes Income taxes expense Net income 0 0 $ 0 Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Required 6 Required 7 Required 8 Budgeted balance sheet as of March 31. Cash Accounts receivable Inventory Land Equipment DIMSDALE SPORTS COMPANY Budgeted Balance Sheet March 31 Less: Accumulated depreciation Total assets Liabilities Accounts payable Taxes payable Equity Retained earnings Common stock Total Liabilities and Equity Assets Liabilities and Equity $ 280,330 558,950 60,000 899,280 727,200 x 93,300 633,900 $2,432,460 $ 566,500 138,358 704,858 0 < Required 7 Required 8