Someone please complete both the Income Statement and Balance Sheet.

Edit 1 - For Hardeep

1 Sales Budget December January February March Quarter April Sales 280,000 400,000 600,000 300,000 1,300,000 200,000 2 Schedule of expected cash collections January February March Quarter 260,000 80,000 Cash sales 120,000 60,000 Credit sales 224,000 320,000 480,000 1,024,000 304,000 440,000 540,000 1,284,000 Total cash collections 3 Schedule of purchases January February March Quarter Budgeted cost of goods 360,000 180,000 780,000 sold Add desired ending 90,000 30,000 inventory 45,000 30,000 Total needs. 810,000 330,000 405,000 210,000 Less beginning inventory 60,000 60,000 90,000 45,000 750,000 270,000 315,000 165.000 Required purchases b. Disbursements for purchases March Quarter January February 93,000 93,000 December purchases 135,000 135,000 270,000 January purchases 157,500 157,500 315,000 February purchases March purchases 82,500 82,500 Total cash disbursements for 760,500 228,000 292,500 240,000 purchases