Requirements - 1. Prepare the sales budget for April. 2. Prepare the inventory, purchases, and cost of goods sold budget for April. 3. Prepare the selling and administrative expense budget for April. 4. Prepare the schedule of cash receipts from customers for April. 5. Prepare the schedule of cash payments for selling and administrative expenses for April. 6. Prepare the cash budget for April. Assume the company does not use short-term financing to maintain a minimum cash balance. 7. Prepare the budgeted income statement for April. 8. Prepare the budgeted balance sheet at April 30, 2024. Print Done More Info April dividends of $4,000 were declared and paid. b. April capital expenditures of $16,600 budgeted for cash purchase of equipment. April depreciation expense, $600. d. Cost of goods sold, 50% of sales. Desired ending inventory for April is $22,800. f. April selling and administrative expenses include salaries of $34,000, 20% 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 10% of sales, all paid in April. h. April budgeted sales, $88,000, 70% collected in April and 30% in May. i. April cash payments of March 31 liabilities incurred for March purchases of inventory, $8,200. April purchases of inventory. $17,900 for cash and $37,000 on account. Half the credit purchases will be paid in April and half in May. Print Done i Data Table 1 Cash $ Accounts Receivable 51,100 16,300 11.900 Merchandise Inventory Total Current Assets s 79,300 Property. Plant, and Equipment Equipment and Fixtures Less: Accumulated Depreciation 80,600 (13,000) s 67,600 Total Assets 146,900 Liabilities Current Liabilities: Accounts Payable $ 8.200 Stockholders' Equity ho $ Common Stock no par 98,700 Retained Earnings Total Stockholders' Equity 138 700 $ 146.900 Total Liabilities and Stockholders' Equity Print Done Instrument Printing Supply of Baltimore has applied for a loan. Its bank has requested a budgeted income statement for April 2024 and budgeted balance sheet at April 30, 2024. The March 31, 2024, balance sheet follows: B: (Click the icon to view the balance sheet) Requirement 1. Prepare the sales budget for April Instrument Printing Supply Sales Budget For the Month Ended April 30, 2024 $ 88,000 Total budgeted sales Requirement 2. Prepare the inventory, purchases, and cost of goods sold budget for April. Instrument Printing Supply Inventory, Purchases, and Cost of Goods Sold Budget For the Month Ended April 30, 2024 Cost of goods sold Plus Desired ending merchandise inventory Total merchandise inventory required Less Beginning merchandise inventory 44.000 22.800 11.900 Budgeted Purchases Choose from any list or enter any number in the input fields and then click Check Answer 7 Parts remaining