Robinson Shutters is a retailer selling colonial-style shutters. All sales are made on credit. The following information is available to you: Budgeted Sales April $400,000 May $450,000 02:52:08 June $440,000 Collections on credit sales are made as follows: In the month of sale 40% In the month following the month of sale 59% Uncollectible accounts written off in the month following the month of sale 1% Cost of goods sold equals 60% of sales. All Inventory is purchased on credit and the firm uses its Accounts Payable account exclusively to record purchases of Inventory. Payment for Inventory purchases is made in the month following the month In which the purchase was made. . Robinson's inventory policy calls for ending inventory always to be equal to 40% of next month's cost of goods sold. . Other monthly expenses to be paid in cash total $18,000. . Monthly depreciation on the sales facility is $12,000. . Robinson pays no income tax. Robinson Shutters Corporation Statement of Financial Position March 31, 2025 Assets Cash $41,800 Accounts Receivable, net of Allowance for Uncollectible Accounts $224,200 Inventory $96,000 Property, Plant & Equipment, net of $598,000 accumulated depreciation $1,138,000 Total Assets $1,500,000 Liabilities and Shareholders' Equity Accounts Payable $232,800 Common Stock, $1 par value $120,000 Additional Pain-In Capital $250,000 Retained Earnings $897,200 Total Liabilities and Shareholders' Equity $1,500,000 Required - Answers to parts A, B and C (A) What is the budgeted net income for May? $ (B) What is the budgeted May 31 balance of Accounts Receivable, net of the Allowance for Uncollectible Accounts? $ (C) What is the budgeted May 31 balance of Accounts Payable? $[