The following data relate to the operations of Shilow Company, a wholesale distributor of consumer goods.

Current Assets

Cash ------------------------------------ $8,000

Accounts Receivable --------------- $20,000

Inventory ------------------------------ $36,000

Buildings and equipment, net --------- $120,000

Accounts Payable ---------------------- $21,750

Common shares -------------------------- $150,000

Retained earnings ----------------------- $12,250

a. The gross margin is 25% of sales

b. Actual and budgeted sales data are as follows: March (Actual) -------------------------------------- $50,000 April -------------------------------------------------- $60,000 May -------------------------------------------------- $72,000 June -------------------------------------------------- $90,000 July ------------------------------------------------- $48,000

c. Each month ending inventory should equal 80% of the following months budgeted cost of goods sold.

d. Monthly expenses are follows: Commissions 12% of sales; rent $2,500; other expenses (excluding depreciation), 6% of sales; Depreciation is $900 per month.

Please prepare the 1. Monthly Sales Budget (April, May, June) and in Total