Requirement 1. Prepare Vinning's sales budget for April and May 2018. Round all amounts to the nearest dollar. Vinning Office Supply Sales Budget April and May, 2018 April May Total budgeted sales Requirement 2. Prepare Vinning's Inventory, purchases, and cost of goods sold budget for April and May. Vinning Supply Company Inventory, Purchases, and cost of Goods Sold Budget April and May, 2018 April May Plus: Total merchandise inventory required Less: Budgeted Purchases Requirement 3. Prepare Vinning's selling and administrative expense budget for April and May. Vinning Office Supply Selling and Administrative Expense Budget April and May, 2018 April May Variable expenses: Fixed expenses: Total fixed expenses Total selling and administrative expenses Balance Sheet March 31, 2024 Assets Current Assets: Cash 26,000 Accounts Receivable 20,000 Merchandise Inventory 29,500 2,000 Prepaid Insurance Total Current Assets $ 77,500 Property, Plant, and Equipment: Equipment and Fixtures 55,000 (30,000) Less: Accumulated Depreciation 25,000 $ 102,500 Total Assets Liabilities Current Liabilities: Accounts Payable $ 18,000 Salaries and Commissions Payable 8,000 Total Liabilities 26,000 Stockholders' Equity Common Stock, no par 12,000 64,500 Retained Earnings Total Stockholders' Equity 76,500 $ 102,500 Total Liabilities and Stockholders' Equity a. b. C. d. Sales in April are expected to be $140,000. Omaha forecasts that monthly sales will increase 2% over April sales in May. June's sales will increase by 4% over April sales. July sales will increase 20% over April sales. Omaha maintains inventory of $12,000 plus 25% of the cost of goods sold budgeted for the following month. Cost of goods sold equal 50% of sales revenue. Monthly salaries amount to $10,000. Sales commissions equal 5% of sales for that month. Other monthly expenses are as follows: Rent: $3,400 Depreciation: $400 Insurance: $300 Income tax: $2,300 O