Shakti Power Inc. was organized on February 28. Projected selling and administrative expenses for each of the first three months of operations are as follows: March $56,000 April 63,000 May 72,000 Depreciation, insurance, and property taxes represent $4,000 of the estimated monthly expenses. The annual Insurance premium was paid on February 28, and property taxes for the year will be paid in November. Seventy percent 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. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the question below. x Open spreadsheet Prepare a schedule indicating cash payments for selling and administrative expenses for March April, and May. Enter all amounts as positive numbers. SHAKTI POWER INC. SHAKTI POWER INC. Schedule of Cash Payments for Selling and Administrative Expenses For the Three Months Ending May 31 March April May March expenses: Paid in March Paid in April April expenses: Paid in April Paid in May May expenses: Paid in March April May March expenses: Paid in March Paid in April April expenses: Paid in April Paid in May May expenses: Paid in May $ $ Total cash payments