Required information [The following information applies to the questions displayed below] Beech Corporation is a merchandising company that is preparing a master budget for the third quarter of the calendar year. The company's balance sheet as of June 30 th is shown below: Beeci's managers hove made the following odditional assumptions and estimates: 1. Fstimated sales for July, August. September and October will be $390,000,$410,000,$400,000, and $420,000, respectively. 2. All sales are on credit and all credit sales are collected Each month's credit sales are collected 35% in the month of sale and 65% in the month following the sale. All of the accounts recelvable at June 30 wil be collected in July. 3. Each monti's ending inventory must equal 30% of the cost of next month's sales. The cost of goods sold is 60% of sales. The company pays for 40% of its merchandise purchases in the month of the purchase and the remaining 60% in the month following the purchase. All of the accounts payable ot June 30 will be paid in July. 4. Monthly selling and administrative expenses are olways $54,000. Eoch month $7,000 of this totat amiount fis deprectation oxpense and the remaining $47,000 relates to expenses that are pald in the month they are incurred. 5. The company does not plan to borrow money or pay or declate dividends during the quarter ended September 30 . The compary does not plan to issue any common stock or repurchase its own stock during the quarter ended September 30. Complete this question by entering your answers in the tabs below. Prepare a schedule of expected cash disbursements for merchandise purchases for July, August, and September: Complete this question by entering your answers in the tabs below. Prepare an income statement that computes net operating income for the quarter ended September 30. Prepare a balance sheet as of September 30