Stuart, Incorporated sells fireworks. The company's marketing director developed the following cost of goods sold budget fot April. May. June, and July Stuart had a beginning inventory balance of $4,000 on April 1 and a beginning balance in accounts payable of $15,600. The company desires to maintain an ending inventory balance equal to 20 percent of the next periods cost of goods sold Stuart makes all purchases on account. The company pays 60 percent of accounts payable in the month of purchase and the remaining 40 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 Stuart wil report on the end-of-quarter pro forma balance sheet c. Prepare a schedule of cash payments tor inventary for Apnl, May, and June d. Determine the balance in accounts payable Stuart will report on the end-of-quarter pro forma balance sheet Complete this question by entering your answers in the tabs below. Prepare an inventory purchases budget for April, May, and June. Determine the amount of ending inventory Stuart will report on the end-of-q Accounts payable