The purchasing department manager for Thornton Company prepared the following supplies purchases budget. Thornton’s policy is to maintain an ending supplies balance equal to 15 percent of the following month’s supplies expense. April’s budgeted supplies expense is $82,000.

Required

1. Complete the supplies purchases budget by filling in the missing amounts.

2. Determine the amount of supplies expense the company will report on its first quarter pro forma income statement.

3. Determine the amount of ending supplies the company will report on its pro forma balance sheet at the end of the first quarter.

4. 

Complete this question by entering your answers in the tabs below. Reg A Reg B and C Compiete the supplies purchases budget by filing in the missing amounts. Suppiles Purchases Budget January February March Budgeted supplies expense Plus: Desired ending suppiles Supplies needed Less: Beginning supplies Required purchases (on account) $ 58,000 $ 62,000 $ 68.000 9,300 67,300 8,700 $ 58,600 The purchasing department manager for Thornton Company prepared the following supplies purchases budget. Thornton's policy is to maintain an ending supplies balance equal to 15 percent of the following month's supplies expense. April's budgeted supplies expense is $82,000. Required a. Complete the supplies purchases budget by filling in the missing amounts. b. Determine the amount of supplies expense the company will report on its first quarter pro forma income statement. c. Determine the amount of ending supplies the company will report on its pro forma balance sheet at the end of the first quarter. Complete this question by entering your answers in the tabs below. Reg A Reg B and C Determine the amount of supplies expense the company will report on its first quarter pro farma income statement. Determine the amount of ending supplies the company will report on its pro forma balance sheet at the end of the first quarter, b. Supplies expense a Ending supplies