Ruler Office Supply's March 31, 2018, balance sheet follows: Click the icon to view the balance sheet) Data Table x The budget committee of (Click the icon to view Read the requirements April and May, 2018 April May Total budgeted sales Requirement 2. Prepare Ruler's inventory. purchases, and cost of goods sold budget for April and May. Ruler Supply Company Inventory. Purchases, and cost of Goods Sold Budget April and May, 2018 April May Ruler Office Supply Balance Sheet March 31, 2018 Assets Current Assets Cash $ 30.000 Accounts Receivable 15,000 Merchandise inventory 30 500 Prepaid insurance 2.500 Total CutAssets Property. Plant, and moment Enament and Fixture 30.000 L. Accurated Depreciation 115.000 Total 78 000 Total merchandise wartoty required 16.000 93.000 Less Buated fra Choose from any list or enter any nurse in the input field and then continue to the next on Print Done 5:15 Data Table Ruler Office Supply Selling and Administrative Expense Budget April and May, 2018 April Property Plant, and Equipment Equipment and Fixtures Less Accumulated Depreciation 30,000 (15,000) 15,000 93,000 May Total Assets $ Variable expenses: Liabilities Fixed expenses: 20,000 4650 24 650 Current Liabilities: Accounts Payable $ Salaries and Commissions Payable Total Liabilities Stockholders' Equity Common Stock Dar Retained Earnings Total Stockholders' Equity Total Llabilities and Stockholders' Equity Total fixed expenses Total selling and administrative expenses 68 350 93.000 Choose from any list of enter any number in the input fields and then continue to the next question Print Done UD se Budget a. April b. c. d. Sales in April are expected to be $180,000. Ruler forecasts that monthly sales will increase 2% over April sales in May. June's sales will increase by 4% over April sales. July sales will increase 20% over April sales. Ruler maintains inventory of $8,000 plus 25% ofthe cost of goods sold budgeted for the following month. Cost of goods sold equal 50% of sales revenue Monthly salaries amount to $4,000. Sales commissions equal 5% of sales for that month. Other monthly expenses are as follows: Rent: $2.800 Depreciation: $700 Insurance: $500 Income tax: $1,800 Print Done anput fields and then continue to the next