Requlrement $6.$ 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.

Box Printing Supply

Cash Budget

For the Month Ended April $30,2024$

$\backslash$table$[[$Cash available$],[$Cash payments:$],[],[],[],[]]$

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.

$\backslash$table$[[$Box Printing Supply$],[$Budgeted Income Statement$],[$For the Month Ended April $30,2024],[$Gross Profit$],[$Selling and Administrative Expenses:$],[$Total Selling and Administrative Expenses$],[$Net income $($loss$)]]$

Requirement $8.$ Prepare the budgeted balance sheet at April $30,2024.$

Review the cash budget you prepared above.

Data table

$\backslash$table$[[\backslash$table$[[$Box Printing Supply$],[$Balance Sheet$],[$March $31,2024]]],[$Assets$],[$Current Assets:$],[$Cash$,$$$,50,800,],[$Accounts Receivable,,$14,200,],[$Merchandise Inventory,,$11,900,],[$Total Current Assets,,$$,76,900],[$Property$,$ Plant, and Equipment:$],[$Equipment and Fixtures,,$81,200,],[$Less: Accumulated Depreciation,,$(12,800),68,400],[$Total Assets,,$$,145,300],[$Llabilities$],[$Current Liabilities:$],[$Accounts Payable,,,$8,700],[$Stockholders$\text{'}$ Equity$],[$Common Stock, no par,$$,35,000,],[$Retained Earnings,,$101,600,],[$Total Stockholders' Equity,,,$136,600],[$Total Liabilities and Stockholders' Equity,,,$145,300]]$

More info

a$.$ April dividends of $$2,500$ were declared and paid.

b$.$ April capital expenditures of $$16,600$ budgeted for cash purchase of equipment.

c$.$ April depreciation expense, $$800.$

d$.$ Cost of goods sold, $50\%$ of sales.

e$.$ Desired ending inventory for April is $$21,200.$

f$.$ April selling and administrative expenses include salaries of $$29,000,30\%$ 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 $10\%$ of sales, all paid in April.

h$.$ April budgeted sales, $$80,000,60\%$ collected in April and $40\%$ in May.

April cash payments of March $31$ liabilities incurred for March purchases of inventory, $$8,700.$

April purchases of inventory, $$12,100$ for cash and $$37,200$ on account. Half the credit purchases will b$$ paid in April and half in May.

Requirements

Prepare the sales budget for April.

Prepare the inventory, purchases, and cost of goods sold budget for April.

Prepare the selling and administrative expense budget for April,

Prepare the schedule of cash receipts from customers for April,

Prepare the schedule of cash payments for selling and administrative expenses for April.

Prepare the cash budget for April. Assume the company does not use short$-$term financing to maintain a minimum cash balance.

Prepare the budgeted income statement for April.

B$.$ Prepare the budgeted balance sheet at April $30,2024$