Solomon, Inc. sells fireworks. The company's marketing director developed the following cost of goods sold budget for April, May, June, and July. Solomon had a beginning inventory balance of $2,800 on April 1 and a beginning balance in accounts payable of $15,300. The company desires to maintain an ending inventory balance equal to 15 percent of the next period's cost of goods sold. Solomon make all purchases on account. The company pays 65 percent of accounts payable in the month of purchase and the remaining 35 percen in the month following purchase. Required a. Prepare an inventory purchases budget for April, May, and June. b. Determine the amount of ending inventory Solomon will report on the end-of-quarter pro forma balance sheet. c. Prepare a schedule of cash payments for inventory for Aprii, May, and June. d. Determine the balance in accounts payable Solomon will report on the end-of-quarter pro forma balance sheet