Sheet Printing Supply of Baltimore has applied for a loan. Its bank has As Sheet Printing Supply's controller, you have assembled the requested a budgeted income statement for April 2024 and budgeted following additional information: balance sheet at April 30, 2024. The March 31, 2024, balance (Click the icon to view the information.) sheet follows: (Click the icon to view the balance sheet) Read the tequirements. Requirement 1. Prepare the sales budget for April. Requirement 2. Prepare the inventory, purchases, and cost of goods sold budget for April. Data table Data table a. April dividends of $3,500 were declared and paid. b. April capital expenditures of $16,200 budgeted for cash purchase of equipment. c. April depreciation expense, $400. d. Cost of goods sold, 40% of sales. e. Desired ending inventory for April is $20,300. f. April selling and administrative expenses include salaries of $30,000,25% of which will be paid in cash and the remainder paid next month. g. Additional April selling and administrative expenses also include miscellaneous expenses of 15% of sales, all paid in April. h. April budgeted sales, $87,000,50% collected in April and 50% in May. 1. April cash payments of March 31 liabilities incurred for March purchases of inventory, $8,700. 1. April purchases of inventory, $6,300 for cash and $37,000 on account. Half the credit purchases will be paid in April and half in May. Requirement 2. Prepare the inventory, purchases, and cost of goods sold budget for April. . ' or April. Requirement 4. Prepare the budgeted cash receipts from customers for April. Requirement 5. Prepare the budgeted cash payments for selling and administrative expenses for April. For the Month Ended April 30, 2024 Cash available Cash payments: Total cash payments Ending cash balance Budgeted Income Statement For the Month Ended April 30, 2024 Gross Profit Selling and Administrative Expenses: Total Selling and Administrative Expenses Net income (loss) Budgeted Balance Sheet April 30, 2024 Assets Current Assets: Total Current Assets Property, Plant, and Equipment