The following information is available for the Barkery, a gourmet pet food and toy store: 1. Balance sheet information as of March 31, 2019: Current Assets Cash Accounts Receivable Inventory S 22,000 39,570 30,000 60,000 Equipment (net) Current Liabilities Accounts Payable Interest Payable Notes Payable Common stock Retained earnings 48,000 1,860 62,000 30,000 9,710 2. Recent and anticipated sales: February March April May June $75,000 $80,000 $85,000 $90,000 $95,000 3. Credit sales: Sales are 60% for credit and 40% cash. Assume that the credit accounts are collected 25% within the month of sale, 65% within the month following the sale, 9% within the second month following the sale and 1% is uncollectible and written off immediately as a bad debt. 4, Cost of goods sold is 75% of sales. We pay for 20% of the purchases in the month of purchase and the remaining 80% of the purchases in the month following the purchase. 5. Inventory is equal to $30,000 at all times. 6. Operating costs: Salaries and wages average 10% of monthly revenues, other monthly operating costs are $5,000. Assume that these costs are paid out each month. In addition to the above costs, depreciation is $300 per month 7. The note payable is due on June 30, 2020 Accrue monthly interest at 4% per annum that will be paid with the note payable balance on June 30, 2020 8. Assume that a minimum cash balance of $20,000 must be maintained. Assume also that all borrowing is effective at the beginning of the month and all repayments are made at the end of the month of repayment. Loans are repaid when sufficient cash is available to pay off the entire loan balance. Interest of 6% is paid when loans are repaid. You should accrue interest for the quarter on any unpaid interest. Management does not want to borrow any more cash than is necessary and wants to repay as soon as cash is available. REOUIRED On the basis of the facts as given above, prepare the following schedules using a spreadsheet software package A. Budgeted monthly cash receipts for April-June, 2019. B. Budgeted monthly cash disbursements for inventory purchases for April- June, 2019. C. Budgeted monthly cash disbursements for operating costs and for total monthly cash disbursements for April-June, 2019. D. Cash budget for April June, 2019. E. Budgeted income statement for the three-month period ending June 30, 2019 F. Balance sheet on June 30, 2019 Part A-F Total Cash Collections-April Total purchases in dollars - April Total payments for purchases in April- Total cash disbursements for April Ending cash balance in April Net income for the quarter - Total Assets as of 6/30/19- $82,000 S63,750 $60,750 $74.250 $29,750 $22,360 $183,550