The company is in the process of preparing a budget for May, and assembled the following data: A.Sules are budpeted at $200,000 for Mayy Or these soles, $60,000 wir be for cask the remainder will be credis sales One-half inontris credic sales are collected in the month the sales are mude, and the remainder are collected in the following month. Alt the Aprila accounts tecelvable will be collected in Moy. 1. Purchases of inventory are expected to tota $12,0,000 during May These putchases will all be on account Forty pericent of ail to suppleri wilbe paid duriog May. c. The May 31 inveriory balarice is budgetted at $40000 cish Deptichation is bodgeted at 52000 for the month. Cash Deptichation is budgeted at $2.000 for the month. nate will bi due in one year Derithed: Far Mry. 1. Calculate the expected cash coliections from custamess 2 Caiculate the expected cash disbursements for merchindse purchates. 4. Prepare a foudacted income simenient. 5. Prepare an end-olmongh budgeted balance sheet. Cupplete thes questios tor enferlog vorar answeers in the tabs below. 1. calovlate the expected canh cellectiahy from castomers tor Mep