Rooney, Inc. sells fireworks. The company's marketing director developed the following cost of goods sold budget for Apr May June and July April May June July Budgeted cost of goods sold $70,000 500,000 500,000 590,000 Rooney had a beginning inventory balance of $2,900 on April 1 and a beginning balance in accounts payable of $15.600 The company desires to maintain an ending inventory balance equal to 20 percent of the next period's cost of goods sold, Rooney makes all purchases on account. The company pays 60 percent of accounts payable in the month of purchase and the remaining 40 percent in the month following purchase Required a. Prepare an inventory purchases budget for April, May, and June b. Determine the amount of ending inventory Rooney will report on the end of quarter pro forma balance sheet c. Prepare a schedule of cash payments for inventory for April, May, and June d. Determine the balance in accounts payable Rooney will report on the end of Quarter pro forma balance sheet Complete this question by entering your answers in the tabs below. Required A Required B Required Required Prepare an inventory purchases budget for April, May, and June Inventory Purchases Budget Budgeted cost of goods sold April 70,000 May he 80 000 90 00 5 70,000 00 000 90.000 Inventory needed 5 700005 50.000 $90,000 Required purchases con account) Required) ces Complete this question by entering your answers in the tabs below. Required A Required Required Required Determine the amount of ending Inventory Rooney will report on the end of quarter pro forma balance sheet and it Required Required Required Required D Prepare a schedule of cash payments for inventory for April May, and June (Round your finalaswers to the nearest whole dollar) Schedule of Cat Payments April Payment of current accounts payable Payment of previous accounts payable Total budgeted Datents for inventory 5 Ols 05 0