Requirements 1. Prepare Clipboard's sales budget for April and May 2024. Round all calculations to the nearest dollar. 2. Prepare Clipboard's inventory, purchases, and cost of goods sold budget for April and May. 3. Prepare Clipboard's selling and administrative expense budget for April and May. Clipboard Ollice Supply's March 31, 2024, balance sheet follows The tudgot committee of Cipboard Office Supply has assembled the following data Fig (Click tha foon to vesw the bolance shoot.) (1) (Click the icme to velew the data) Resd the roputionsiti: Requirement 1. Prepare Cipboard's sales budget for Aptit and May 2024, Round at amounts to the nuarest dotat Reauliement 2. Prepare Cipboards inventory. purchases, and cost of goods soid budgat for fered and Mry. Requirement 2. Prepare Clipboard's inventory, purchases, and cost of goods sold budget for April and May. Requirement 3. Prepare Clipboard's selling and administrative expense budget for April and May. Requirement 3. Prepare Clipboard's selling and administrative expense budget for April and May. \begin{tabular}{l} April and May, 2024 \\ \hline Variable expenses: \\ \hline \\ \hline Fixed expenses: \\ \hline \end{tabular} 2024, balance sl fice Supply (ce sheet) More info a. Sales in April are expected to be $80,000. Clipboard 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. b. Clipboard maintains inventory of $7.000 plus 25% of the cost of goods sold budgeted for the following month. Cost of goods sold equal 50% of sales revenue. c. Monthly salaries amount to $9.000. Sales commissions equal 5% of sales for that month d. Other monthly expenses are as follows: - Rent: $2,800 - Depreciation 5700 - Insurance: 5200 - Income tax: $2,100