The capital expenditures budget indicates that Solomon will spend $160,200 on October 1 for store fixtures, which are expected to have a $33.000 salvage value and a two-year (24-month) useful life. Use this information to prepare a selling and administrative expenses budget. f. Utilties and sales commissions are paid the month after they are incurred; all other expenses are paid in the month in which they are incurred. Prepare a cash payments budget for selling and administrative expenses. 9. Solomon borrows funds, in increments of $1,000, and repays them on the last day of the month. Repayments may be made in any amount available. The company also pays its vendors on the last day of the month. It pays interest of 2 percent per month in cash on the last day of the month. To be prudent, the company desires to maintain a $25,000 cash cushion. Prepare a cash budget. h. Prepare a pro forma income statement for the quartes 1. Prepare a pro forma balance sheet at the end of the quarter. j. Prepare a pro forma statement of cash flows for the quartec. Complete this question by entering your answers in the tabs below. Sillomon borrows funds, in increments of 51,000 , and repays them on the tast day of the month. Repaymenta may be made In any amourt avalabie. The company also pays iss vendors an the last day af the month. It pays interest of 2 percent per. manth in cash on the last day of the month. To be prudent, the company desires to maintain a 525,000 cash cushion. Prepare a cash budght. (Any repayments should bis indicited with o minus wigh) Solomon borrows funds, in inerements of $1,000, and repays them on the last day of the month. Repayments may be made in any amount avaltable. The company also pays its vendors on the last day of the month. It pays interest of 2 percent per month in cash on the last day of the month. To be prudent, the company desires to maintain a $25,000 cash cushion. Prepare a cash budget. (Any repayments should be indicated with a minus sign.) Prepare a pro forma income statement for the quarter. Prepare a pro forma balance sheek at the end of the quarter. (Amounts to be deducted should be indicated by a minus sign. Prepare a pro forma statement of cash flows for the quarter. (Cash outfows shouid be indicated with a minus sign.) The capital expenditures budget indicates that Solomon will spend $160,200 on October 1 for store fixtures, which are expected to have a $33.000 salvage value and a two-year (24-month) useful life. Use this information to prepare a selling and administrative expenses budget. f. Utilties and sales commissions are paid the month after they are incurred; all other expenses are paid in the month in which they are incurred. Prepare a cash payments budget for selling and administrative expenses. 9. Solomon borrows funds, in increments of $1,000, and repays them on the last day of the month. Repayments may be made in any amount available. The company also pays its vendors on the last day of the month. It pays interest of 2 percent per month in cash on the last day of the month. To be prudent, the company desires to maintain a $25,000 cash cushion. Prepare a cash budget. h. Prepare a pro forma income statement for the quartes 1. Prepare a pro forma balance sheet at the end of the quarter. j. Prepare a pro forma statement of cash flows for the quartec. Complete this question by entering your answers in the tabs below. Sillomon borrows funds, in increments of 51,000 , and repays them on the tast day of the month. Repaymenta may be made In any amourt avalabie. The company also pays iss vendors an the last day af the month. It pays interest of 2 percent per. manth in cash on the last day of the month. To be prudent, the company desires to maintain a 525,000 cash cushion. Prepare a cash budght. (Any repayments should bis indicited with o minus wigh) Solomon borrows funds, in inerements of $1,000, and repays them on the last day of the month. Repayments may be made in any amount avaltable. The company also pays its vendors on the last day of the month. It pays interest of 2 percent per month in cash on the last day of the month. To be prudent, the company desires to maintain a $25,000 cash cushion. Prepare a cash budget. (Any repayments should be indicated with a minus sign.) Prepare a pro forma income statement for the quarter. Prepare a pro forma balance sheek at the end of the quarter. (Amounts to be deducted should be indicated by a minus sign. Prepare a pro forma statement of cash flows for the quarter. (Cash outfows shouid be indicated with a minus sign.)