The Cabello Company buys air conditioners for $3,900 and sells them for $4,800 each; the company has the following sales forecast:

April 120 units

May 140 units

June 180 units

July 160 units

The company wants to maintain ending inventory for each month at 15% of the next months sales and had 20 units on hand on April 1st. The company also has monthly rent of $15,000 and salaries of $80,000.

The company pays for 80% of inventory purchases in the month of the purchase and 20% of inventory purchases in the month following the purchase. Otherwise, it pays for all selling and administrative costs in the month incurred.

The company's customers pay for all products in the month they are purchased.

The company had cash of $22,000, equipment of $36,000 and zero accounts payable on March 31st. Question 1: What amount of cash would appear in the company's balance sheet budget for May?

Question 2: What amount of accounts payable would appear in the company's balance sheet budget for April?

Question 3: What dollar amount of inventory would appear in the company's balance sheet budget for May?