Schedule of Cash Payments for a Service Company SafeMark Financial Inc. was organized on February 28. Projected selling and administrative expenses for each of the first three months of operations are as follows: March April May Depreciation, insurance, and property taxes represent $40,000 of the estimated month y expenses. The annual insurance premium was paid on Februar 28 and proper . taxes for the year will be paid in June, 66% of the remainder of the expenses are expected to be paid in the month in which they are incurred, with the balance to be paid in the following month Prepare a schedule indicating cash payments for selling and administrative expenses for March, April, and May. $183,000 173,900 158,200 SafeMark Financial Inc. Schedule of Cash Payments for Selling and Administrative Expenses For the Three Months Ending May 31 March April May March expenses: io April expenses: Paid in April Paid in May May expenses Paid in May Total cash payments