Required informetion SB Exercise 8-12 through Exercise 8-13 (Algo) [The following information applies to the questions displayed berow] Beech Corporation is a merchandising company that is preparing a master budget for the third quarter of the calendar year. The company's baiance sheet as of June 30 th is shown below. Exercise 8-13 (Algo) Schedules of Expected Cash Collections and Disbursements; Income Statement; Bolence Sheet [LO8-2, LO8-4, LO8-9, LO8-10] Beech's manogers have made the following odditional assumptions and estimates: Exercise 8-13 (Algo) Schedules of Expected Cash Collections and Disbursements; Income Statement: Balonce Sheet [LO8-2, LO8-4, LO8-9, LO8-10] Beechis managers nsve made the following adational assumptions and estimates: 1. Eotmoted sales for july. August, Septembet, and October will be $220.000,$240,000.$230,000, and $250.000, respectively 2 All sales are on credt and ail credit saies are collected. Each month's credit sales are collected 45% in the month of saie and 55% in the month following the sale. All of the accounts recelvable at June 30 will be collected in July. 3. Each montris ending inventory must equal 15% of the cost of next month's sales. The cost of goods sold is 70% of sales. The compary pays for 30% of its merchandse purchases in the month of the purchase and the remaining 70% in the month following the purchase. All of the accounts payoble at June 30 will be pidi in July 4. Monthily selling and administrative expenses are olvays $40.000. Each month $6.000 of this total amount is depreclation expense and the remaineng $34,000 relates to expenses that are paid in the month they are incurred 5. The company does not pian to borrow money or pay or deciare dividends during the quarter ended September 30 . The company does not plan to issue any common stock or repurchase its own stock durting the quarter ended September 30 Required: 1. Prepare o schedule of expected cash collections for July, August, and Septembet; 2-a. Frepare a merchandise purchases budget for July. August, and September. Also compute total merchandise purchases for the quarter ended september 30 . 2.0 Prepare a schedule of expected cosh disbursements for metchandise purchases for July. August, and September. 3. Prepare on income statement for the quarter ended September 30 4 Prepare o baiance sheet at of September 30. Complete this question by entering your answers in the tabs below. Required: 1. Prepare a schedule of expected cash colections for July, August, and Septembet. 2-a Prepare a metchandise purchases budget for July, August, and September Also compute total merchandise purchases for the quarter ended 5 eptember 30 . 2.b. Prepare a schedule of expected cash disbursements for merchandise purchases for July, August, and September. 3. Prepare an income statement for the quartet ended September 30 . 4. Prepare a balance sheet as of September 30 . Complete this question by entering your answers in the tabs below. Prepare a schedule of expected cash coilections for July, August, and September. Required: 1. Prepare a schedule of expected cash collections for July. August, and September: 2. Prepare a merchandise purchases budget for July. August, and September. Also compute total merchandise purchases for the quarter ended September 30 2.b. Prepare a schedule of expected cash disbursements for merchandise purchases for July. August, and September. 3. Prepare an income statement for the quarter ended September 30 . 4. Prepare a balance sheet as of September 30 . Complete this question by entering your answers in the tabs below. Prepare a merchandise purchases budget for July, August, and September. Also compute total merchandise purchases for the quarter ended September 30. Required: 1. Prepare a schedule of expected cash collections for July. August, and September. 2-a. Prepare a merchandise purchases budget for July. August, and September. Also compute total merchandise purchases quarter ended September 30 2-b. Prepare a schedule of expected cash disbursements for merchandise purchases for July. August, and September. 3. Prepare an income statement for the quarter ended September 30 . 4. Prepare a balance sheet as of 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. 1. Prepare a schedule of expected cash collections for July. August, and September: 2-a. Prepare a merchandise purchases budget for July. August, and September. Also compute total merchandise purchases fo quarter ended September 30 . 2-b. Prepare a schedule of expected cash disbursements for merchandise purchases for July. August, and September. 3. Prepare an income statement for the quarter ended September 30 . 4. Prepare a balance sheet as of September 30 . Complete this question by entering your answers in the tabs below. Prepare an income statement for the quarter ended September 30 . Prepare a balance sheet as of September 30