Requirement 1. Show separate computations for cash, inventory, and owners' equity balances. Begin by calculating the cash balance. Cash Beginning balance Cash inflows: Cash sales Collections Cash outflows: Payment of March liabilities Cash purchases Payments for April (credit) purchases Purchase of equipment Operating expenses Ending balance 1. Prepare the budgeted balance sheet for Chair Medical Supply at April 30. Show separate computations for cash, inventory, and owners' equity balances. a. March 31 equipment balance, $52,600; accumulated depreciation, $41,300. b. April capital expenditures of $42,500 budgeted for cash purchase of equipment. c. April depreciation expense, $300. d. Cost of goods sold, 40% of sales. e. Other April operating expenses, including income tax, total $14,000, 25% of which will be paid in cash and the remainder accrued at April 30. f. March 31 owners' equity, $94,000. g. March 31 cash balance, $40,300. h. April budgeted sales, $88,000, 70% of which is for cash. Of the remaining 30%, half will be collected in April and half in May. i. April cash collections on March sales, $29,900. j. April cash payments of March 31 liabilities incurred for March purchases of inventory, $17,100 k. March 31 inventory balance, $29,600. I. April purchases of inventory, $10,600 for cash and $36,500 on credit. Half of the credit purchases will be paid in April and half in May