Sharpe company has provided the following budget information for the first quarter of $2025$:

1. Prepare Sharpe Company's schedule of cash receipts from customers and schedule of cash payments for the first quarter of 2025. 2. Prepare Sharpe Company's cash budget for the first quarter of 2025. Print Done ion for the first quarter of 2025: r QQ-Company, h receipts from customers and schedule ers for the first quarter of 2025. First Quarter 2025 209000 a. b. c. d. e. f. g. Capital expenditures include $41 ,OOO for new manufacturing equipment to be purchased and paid in the first quarter. Cash receipts are 85% of sales in the quarter of the sale and 15% in the quarter following the sale. Direct materials purchases are paid 70% in the quarter purchased and 30% in the next quarter Direct labor, manufacturing overhead, and selling and administrative costs are paid in the quarter incurred, Income tax expense for the first quarter is projected at $44,000 and is paid in the quarter incurred. Sharpe Company expects to have adequate cash funds and does not anticipate borrowing in the first quarter. The December 31, 2024, balance in Cash is $28,000, in Accounts Receivable is Cash Receipts from Customers Total sales Cash Receipts from Customers: Accounts Receivable balance, December 31 , 1st Qtr.Sales Total cash receipts from customers 2024 Help me solve this Etext pages Accounts Receivable balance, March 31, 2025: 1st Qtr.Sales, collected in 2nd Qtr. Calculator Budget Information Total sales Budgeted purchases of direct materials Budgeted direct labor cost Budgeted manufacturing overhead costs: Variable manufacturing overhead Depreciation Insurance and property taxes Budgeted selling and administrative expenses: Salaries expense Rent expense Insurance expense Depreciation expense Supplies expense 209,000 40,900 36,500 1,125 1 ,300 6,800 6,000 4,500 2,000 200 8,360