S: A Data Table - X ply h Thumbtack Office Supply May 201 Balance Sheet March 31, 2018 Assets Current Assets: Cash 20,000 15,000 12,000 2,500 cost of g ny es Sold Accounts Receivable Merchandise Inventory Prepaid Insurance Total Current Assets Property, Plant, and Equipment: Equipment and Fixtures Less: Accumulated Depreciation 49,500 34,000 (30,000) April 4,000 Total Assets $ 53,500 Liabilities Current Liabilities: $ 11,000 5,250 Accounts Payable Salaries and Commissions Payable Total Liabilities Stockholders' Equity Common Stock, no par $ 16,250 expense 14,000 get and then Print Done i X oply Data Table Assets Current Assets: 01 Cash $ Accounts Receivable 20,000 15,000 12,000 2,500 49,500 34,000 (30,000) 4,000 $ 53,500 Merchandise Inventory Prepaid Insurance Total Current Assets Property, Plant, and Equipment: Equipment and Fixtures Less: Accumulated Depreciation Total Assets Liabilities Current Liabilities: Accounts Payable $ Salaries and Commissions Payable Total Liabilities Stockholders' Equity Common Stock, no par 11,000 5,250 $ 16,250 14,000 23,250 Retained Earnings Total Stockholders' Equity 37,250 $ Total Liabilities and Stockholders' Equity 53,500 Print Done i More Info - X a. an de Sales in April are expected to be $40,000. Thumbtack 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. b. Thumbtack maintains inventory of $7,000 plus 25% of the cost of goods sold budgeted for the following month. Cost of goods sold equal 50% of sales revenue. c. Monthly salaries amount to $5,000. Sales commissions equal 5% of sales for that month. d. Other monthly expenses are as follows: Rent: $3,200 Depreciation: $400 Insurance: $200 Income tax: $1,800 Print Done expense budget for April and May, i Requirements - X st of god Sold Bu 1. Prepare Thumbtack's sales budget for April and May 2018. Round all calculations to the nearest dollar. 2. Prepare Thumbtack's inventory, purchases, and cost of goods sold budget for April and May 3. Prepare Thumbtack's selling and administrative expense budget for April and May pril Print Done ned Requirement 1. Prepare Thumbtack's sales budget for April and May 2018. Round all amounts to the nearest dollar. Thumbtack Office Supply Sales Budget April and May, 2018 April May Total budgeted sales Requirement 2. Prepare Thumbtack's inventory, purchases, and cost of goods sold budget for April and May. Thumbtack Supply Company Inventory, Purchases, and Cost of Goods Sold Budget April and May, 2018 April May Plus: Total merchandise inventory required Less: Budgeted Purchases Requirement 3. Prepare Thumbtack's selling and administrative expense budget for April and May. Thumbtack Office Supply Selling and Administrative Expense Budget A Plus: Total me Beginning merchandise inventory Less: Cost of goods sold Budgete Desired ending merchandise inventory Sales Requirei expen Thumbtack Office Supply Selling and Administrative Expense Budget April and May, 2018 Budgeted Purchases Requirement 3. Prepare Thumbtack's selling and administrative expense budget for April and May. Thumbtack Office Supply Selling and Administrative Expense Budget April and May, 2018 April May Variable expenses: Fixed expenses: Total fixed expenses Total selling and administrative expenses Choose from any list or enter any number in the input fields and then continue to the next question. Variable expenses: Commissions Expense Cost of Goods Sold Depreciation Expense Ending Merchandise Inventory Insurance Expense Purchases Rent Expense Salaries Expense Sales Choose rrom any list or enter any number in the input fields and then