Sharpe Company has provided the following budget information for the first quarter of 2024 : Addisional data related to the first quarter of 2024 for Sharpe Company: (Ctck the icon to viow the budgot information.) (Click the icon to view the dota) Read the Roquirement 1. Prepare Sharpo Company's schodule of cesh recepts from customers and schedule of cash payments for the first quarter of 2024. Bogin by proparing the schedule of cash receipts from austomers for the first quarter of 2024. Data table More info a. Capital expenditures include $35,000 for new manufacturing equipment to be purchased and paid in the first quarter. b. Cash receipts are 70% of sales in the quarter of the sale and 30% in the quarter following the sale. c. Direct materials purchases are paid 50% in the quarter purchased and 50% in the next quarter. d. Direct labor, manufacturing ovorhead, and selling and administrative costs are paid in the quarter incurred. 0. Income tax expense for the first quarter is projected at $40,000 and is poid in the quarter incurred. f. Sharpe Company axpects to have adequate cash funds and does not anticipate borrowing in the first quarter. 9. The December 31, 2023, balance in Cash is \$14,000, in Accounts Receivable is $15,500, and in Accounts Payable is $13,600. Requirements 1. Prepare Sharpe Company's schedule of cash recoipts from customers and ochedule of cash payments for the first quarter of 2024. 2. Propare Sharpe Company's cash budgot for the frst quarter of 2024