REQUIREMENTS.

1. Prepare Irwin Company's budgeted income statement for the first quarter of 2017.

2. Prepare Irwin Company's budgeted statement of cash flows for the first quarter of 2017.

3.Prepare Irwin Company's budgeted balance sheet of March 31, 2017. Hint use the budgeted statement of cash flows prepared in Requirement 2 to determine the Cash Balance.

Irwin Company has the following balance on December 31, 2016 post-closing trial Additional information: Direct materials purchases are paid 50% in the quarter purchased and 50% in the next quarter a. post-closing trial (click the icon to view the balance.) The company's accounting department has gathered the following budgeting information for the first quarter of 2017: (Click the icon to view the budgeting information.) epatmmationfor theexpense b. Direct labor, manufacturing overhead, selling and administrative costs, and income tax expense are paid in the quarter incurred. Read the requirements