The following information is available for April 2021:

Beginning cash balance is 400.000. Purchases of merchandise are paid 60% in the current month and 40% in the following month. Purchases totaled 1.800.000 in March and are estimated to be 2.000.000 in May. Employee wages are paid for in the current month. Employee expenses for April totaled 156.000. Overhead expenses are paid in the next month. The accounts payable amount for these expenses from March is 80.000 and for May will be 90.000. April's overhead expenses total 80.000. Sales are on credit and are collected 70% in the current period and the remainder in the next period. March's sales were 3.000.000, and May's sales are estimated to be 3.200.000. Bad debts average 1% of sales. Selling and administrative expenses are paid monthly and total 450.000, including 40.000 of depreciation. All unit costs for April are the same as they were in March. Required: 1. Sales and Purchases budgets. 2. Cash budget and budgeted income statement.

Desired Inventories Estimated costs Product Estimated sales Beginning 10.000 Ending 12.000 Blue cheese 280.000 hoops @ 10 each 8 /hoop