Required: For May. 1. Calculate the expected cash collections fiom customers. 2. Calculate the expected cash disbursements for merchandise purchases 3. Prepare a cash budget. 4. Prepare a budgeted income statement: 5. Prepare an end-of-month budgeted balance sheet. Complete this question by entering your answers in the tabs below. prepare a cash budget for May Note Cash deficiency, repsyments and interest should be indicated by a minus sign. Required: For May 1. Calculate the expected cash collections from customers. 2. Calculate the expected cash disbursements for merchandise purchases 3. Prepare a cash budget. 4. Prepare a budgeted income statement. 5. Prepare an end-of-month budgeted balance sheet. Complete this question by entering your answers in the tabs below. Prepare a budgeted income statement for May. Required: For May 1. Calculate the expected cash colections from customers. 2. Calculate the expected cash disbursements for merchandise purchases. 3. Prepare a cash budget 4. Prepare a budgeted income statement. 5. Prepare an end-of-month budgeted balance sheet. Complete this question by entering your answers in the tabs below. Prepare an end-of-month budgeted balance sheet as of May 31 . Minden Company is a wholesale distributor of piemum European chocolates. The company's balance sheet as of April 30 is given below: The cumpanyis in the process of pieparing a badget for May and assembled the following data: a Sales are budgeted at $299,000 for May or these sales, $89,700 wil be for cash the remainder wil be ciedit sales. One.half of a month's credit soles are collected in the month the sales ate made, and the remainder are collected in the following month All of the Apra 30 accounts ifcetvable will be collected in May b. Puichases of inventory are expected to total $169,000 curing Moy. These parchases will ail be on account forty percent of al purcheses are pard for in the month of purchase, the recrainder are pald in the following month. All of the Aptil 30 accounts poyable to suppliers wil be paid during May. C. The Moy 31 inventory ba ance is budgeted at $42,000 d. Seling and administraive expenses for May are budgeted ot $89.700, excusive of cepreciation. These expenses will be poid in cash Depreciation is budpeted at $2.250 for the month. e. The note payable on the Apin 30 balance sheet wil be paid during Moy, win $320 in interest (Ail of the interest relates to May) Newrefriperating equipment costing $7.200 wil be purchased for cash duing May o. Duning Moy, the company will boriow $25,200 fiom its bank by giving a new note poyable to the bank for that amount The new note will be due in one year Required: For Moy: 1 Calculate the expected casn colectons fiom customers. 2 Calculate the expected casicisisuments for merchandise purchases 3 Prepare o cash budoet. 4. Piepare a budgeled income statement. 5. Piepare an end-of-month budected bolance sheet complete this question by entering your enswers in the tebs tellow