Solomon, Incorporated sells fireworks. The company's marketing director developed the following cost of goods sold budget for April, May, June, and July. April May June July Budgeted cost of goods sold $ 68,000 $ 78,000 $ 88,000 $ 94, 000 Solomon had a beginning inventory balance of $4,600 on April 1 and a beginning balance in accounts payable of $15,700. The company desires to maintain an ending inventory balance equal to 10 percent of the next period's cost of goods sold. Solomon makes all purchases on account. The company pays 70 percent of accounts payable in the month of purchase and the remaining 30 percent 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 April, May, and June. d. Determine the balance in accounts payable Solomon will report on the end-of-quarter pro forma balance sheet.b. Determine the amount of ending inventory Solomon will report on the end-of-quarter pro forma c. Prepare a schedule of cash payments for inventory for April, May, and June. d. Determine the balance in accounts payable Solomon will report on the end-of-quarter pro forma Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D Prepare an inventory purchases budget for April, May, and June. Inventory Purchases Budget April May June Budgeted cost of goods sold $ 68,000 $ 78,000 $ 88,000 Inventory needed Required purchases (on account)b. Determine the amount of ending inventory Solomon will report on the end-of-quarter pro forma balance she c. Prepare a schedule of cash payments for inventory for April, May, and June. d. Determine the balance in accounts payable Solomon will report on the end-of-quarter pro forma balance she Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D Determine the amount of ending inventory Solomon will report on the end-of-quarter pro forma balance sheet. Ending inventorya. 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 April, May, and June. d. Determine the balance in accounts payable Solomon will report on the end-of-quarter pro forma balance sheet. Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D Prepare a schedule of cash payments for inventory for April, May, and June. (Round your final answers to the nearest whole dollar.) Schedule of Cash Payments April May June Payment of current accounts payable Payment of previous accounts payable Total budgeted payments for inventorya. 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 she c. Prepare a schedule of cash payments for inventory for April, May, and June. d. Determine the balance in accounts payable Solomon will report on the end-of-quarter pro forma balance she Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D Determine the balance in accounts payable Solomon will report on the end-of-quarter pro forma balance sheet. Accounts payable