the tables down below are the ones that I need help on. please help me complete the tables.

operating expense budget does not need to be solved, but the budgeted income statement do, and so does statement of retained earnings.

Group Budget Project Budget Project Overview For this project, you will act as a Budget team tasked by the management at Professional Printing Supply. There are three parts to this project: 1. PART L Create a management tool using Excel 2. PART II: Use the Excel Tool for management planning 3. PART III: Write a management discussion to support management planing decisions. Click Here to see Budget Project Due Dates and Points! Outcomes 1. Practice creating Excel-based reports from raw financial data using formulas, functions, and cell referencing- 2. Use Excel as a tool to manipulate and analyze data as an aid in managenent decision-making 3. Analyze the effects of changes in assumption on the types of financial data. 4. Communicate management decisions and their justifications. Create a Budget for a Merchandising Company-DUE Wed, March 15 Professional Printing Supply of Baltimore, MD has applied for a laan. Its bank has requested a Budgeted Ballance Sheet and a Budgeted statement of Cash Flows for the Second Quarter in 2023. However, to complete these budgets all necessary Budgets and Pro Forma Financiats must also be completed. Management at Professional Printing Supply has asked your team to prepare the budget. Information for Completing the Budget Professional Printing Supply's Controller, assembled the following additional information for you team: 1. April budgeted Sales =$84,000,70% collected in April and the remainder collected in May, sales are expected increase by 5% each month: 2. Cost of Goods Sold, 40% of sales: 3. Desired Ending Inventory is 15% of the next month's sales: 4. April Selling and Administrative Expenses - Salaries total $36,000,40% of which will be paid in cash and the remaining amount to be paid next months 5. Additional April Selling and Administrative Expenses equals 15% of 5 ales, 20% paid in cash and the remainder to be paid next month: 6. April Dividends of $4,000 were declared and Paid: 7. Any Beginning Accounts Payable on the Balance Sheet are paid in the current month; 8. Management requires there to be a minimum cash balance of $70,000 a month. Additional information that is already entered into the Budget Template - April 1 Capital Expenditures for equipment costing $16,600 budgeted: $5,000 down in April and the Remainder on a 60 Day, 6% Note: - April Depreciation Expense. $600 for equipment on the booksew equipment uses straight-line depreciation, $4000 residual value, with a usefur life of 5 y months); Requirements: 1. Download the 2. Save the file as W23-"GROUP NUMBER"-Initial Budget 3. Complete the budget with the information provided above. You will be completing the following budgets and financials. The other tab have been completed Some cells within the following budgetf. and financials are already filled out for you. DO NOT change these cells. - Sales and Cost of Goods Sold Budget - Purchases Budiget - Operating Budget - Income Statement - Statement of Retained Earnings - Cash Budget - Balance Sheet 4. You must use formulas, functions, and cell references whenever you are calculating a number or referencing a mumber from somewhere else in the workbook. PROFESSIONAL PRINTING SUPPLY Budgeted Income Statement For the Quarter Ending June 30, 2023 PROFESSIONAL PRINTING SUPPLY Statement of Retained Earnings For the Quarter Ending June 30, 2023 \begin{tabular}{|l|l|l|l|} \hline \multicolumn{1}{|c|}{ APR } & MAY & JUN & 2nd Quarter \\ \hline Beginning Owner's Equity & & & \\ \hline Net Income (Loss) & & & \\ \hline Less: Dividends & & & \\ \hline Ending Owner's Equity & & & \\ \hline \end{tabular} PROFESSIONALPRINTING SUPPLY Operating Expenses Budget For the Quarter Ending June 30, 2023 ERATING EXPENSES April May Iling Expense-Salaries di Selling Expenses - \% of Sales 15% epreciation Expense ther Expenses-Interest Expense Total Operating Expenses ESS: Noncash Expenses (866) (754) (810) (2,430) otal Cash Operating Expenses Cash Operating Expenses Breakdown \begin{tabular}{|l|l|} \hline Salaries Paid in the Current Month & 40% \\ \hline Salaries Paid in the Next Month & 60% \\ \hline & \\ \hline Add'. Selling Expenses Paid in the Current Month & 20% \\ \hline AddI. Selling Expenses Paid in the Next Month & 80% \\ \hline \end{tabular} Interest Paid When Note Comes Due (116)