Requirement 5 and 6.

Requirement 5. Prepare the budgeted cash payments for selling and administrative expenses for April. Data table Requirement 6. Prepare the cash budget for April. Assume the company does not use short-term financing to maintain a minimum cash balance. Review the budgeted cash receipts from customers you prepared above. Review the budgeted cash payments for selling and administrative expenses you prepared above. More info a. April dividends of $4,500 were declared and paid. b. April capital expenditures of $16,400 budgeted for cash purchase of equipment. c. April depreciation expense, $300. d. Cost of goods sold, 40% of sales. e. Desired ending inventory for April is $27,100 f. April selling and administrative expenses include salaries of $39,000,30% of which will be paid in cash and the remainder paid next month. g. Additional April selling and administrative expenses also include miscellaneous expenses of 5% of sales, all paid in April. h. April budgeted sales, $87,000,60% collected in April and 40% in May. i. April cash payments of March 31 liabilities incurred for March purchases of inventory, $8,000 j. April purchases of inventory, $13,000 for cash and $37,200 on account. Half the credit purchases will be paid in April and half in May. Requirement 7. Prepare the budgeted income statement for April. Review the sales budget you prepared above Review the selling and administrative expense budget you prepared above Review the inventory, purchases, and cost of goods sold budget you prepared above