this is a 5 part question. thank you

Current as,ets a3 of narch: 31: Caeh 7.400 s 19,600 39,000 126.000 23,175 150,000 s 18,825 Accounts receivable Inventory Building and equspment net Accounts payable Conmon atock Retained earnings a. The gross margin is 25% of sales. b Actual and budgeted sales cdata March iactosl) pril 2 49,000 s 65,000 June Tuly 70,000 95, 00o 46, 000 Sales are 00% for cash and 40% on credit Credit sales are collected in the month following sale. The accounts recen able at March 31 are a result of March credit sales d. Each month's ending inventory should equal 80% of the folowing month's budgeted cost ofgoods sold e. One half of a month's inventory purchases is paid for in the month of purchase, the other half is paid for in the following month. The accounts payable at March 31 are the result of March purchases of inventory f. Monthly expenses are as follows commissions, t2% of sales, rent, S2.200 per montt other expenses (excluding deprecation 6s g. Equipment costing $1,400 will be purchased for cash in April h Management would lke to maintain a minimum cash balance of at least $4000 at the end of each month The company has an increments of $1000 at the beginning of each month up to a eement with a local bank that allows the company to borrow in total loan balance of S20000 The nterest rate on these loans is 1% per month and for smpicity we wil assume that nterest is not compounded. The company would, as far as it is able, repay the loan plus accumulated interest at the end of the quarter Quiz 6-Google Chroene Saved accounts payable at March 31 are the result of March purchases of inventory f. Month y expenses are as follows: commissions, 12% of sales, ren S2.200 per month, other expenses (excluding depreciation). 6% of sales. Assume that these expenses are paid g. Equipment costing $1,400 will be purchased for cash in April monthly. Depreciation is $945 per month (includes depreciation on new assets) h Management would like to maintain a minimum cash balance of at least $4,000 at the end of each month. The company has an agreement with a local bank that allows the company to borrow in increments of $1,000 at the beginning of each month, up to a total loan balance of S 20 000 The interest rate on these loans is t% per month and for simplicity we will assume that interest is not compounded. The company would, as far as it is able, repay the loan plus accumulated interest at the end of the quarter Required Using the preceding data: 1. Complete the schedule of expected cash collections 2. Complete the merchandise purchases budget and the schedule of expected cash disbursements for merchandise purchases 3. Complete the cash budget. 4 Prepare an absorption costing income statement folrthe quarter ended June 30 5, Prepare a balance sheet as of June 30 Complete this question by entering your answers in the tabs below Required 1 Required 2 Required 3 Required4 Required S Complete the schedule of expected cash collections. Schedule of Expected Cash Collections June Quarter Cash sales Credit sales April May $ 39,000 19,600 Total collections $58 6005 Prey 2 of6 Next Quir 6 Google Chrome Moroscf: Teame 5. Prepare a balance sheet as of June 30. Complete this question by entering your answers in the tabs below. Required1 Required 2Required 3 Required 4 Required5 Complete the merchandise purchases budget and the schedule of expected cash disbursements for merchandise pur Merchandise Purchases Budget Apri May 48,750 $52,500 42,000 0750 52,500 39,000 June Quarter Budgeted cost of goods sold Add desired ending merchandise inventory Total needs Less beginning merchandise inventory Required purchases Budgeted cost of goods sold for April-$65,000 sales 75%-$48,750 Add desired ending inventory for April-$52.500 x 80%-342,000 $51.750 $52,500 $ Schedule of Expected Cash Disbursements-Merchandise Purchases April $23,175 25,87525,875 May June Quarter $ 23,175 March purchases April purchases May purchases June purchases Total disbursements 51,750 49,050 $25,875 $ 0 $74,925 Required 1 Required 3 Prex 2 of 6 Next Complete this question by entering your answers in the tabs below. Required1Required Required 3Required 4 Required 5 Complete the cash budget. (Cash deficiency, repayments and interest should be indicated by a minus sig Shilow Company Cash Budget April May June Quarter Beginning cash balance Add collections from customers Total cash available Less cash disbursements $ 7,400 58,600 66,000 49,050 13,900 1,400 64,350 1,650 f or inventory For expenses For equipment Total cash disbursements Excess (deficiency) of cash available over disbursements Financing Borrowings Repayments Interest Total financing Ending cash balance $ 1,650 $ KRequired 2 Required 4 > Complete this question by entering your answers in the tabs below. Required1 quired Required 3 Require) 4 Required s Prepare an absorption costing income statement for the quarter ended June 30. Shilow Company Income Statement For the Quarter Ended June 30 Cost of goods sold Selling and administrative expenses: Prepare a balance sheet as of June 30 Shilow Company Balance Sheet June 30 Assets Current assets Total current assets Total assets Liabilities and Stockholders' Equity Stockholders equity Total liabilities and stockholders' equity K Required 4 Current anseta as of March 311 Cash 7,400 19, 600 39,000 s 126,000 Buiiding and equipment, net ounts payable Cormon stock 150,000 Retained earning a The gross margin is 25% of sales b. Actual and budgeted sales data: March (actual) April May June July s 49,000 65,000 70,000 95, 000 $ 46,00o sales are 60% for cash and 40% on credit Credit sales are collected in the month following sale The accounts receivable at March 31 are a result of March credit sales d. Each month's ending inventory should equal 80% of the following month's budgeted cost of goods sold. rchases is paid for in the month of purchase; the other half is paid for in the following month. The commissions, 12% of sales, rent $2 200 per m onth, other expenses excluding depreciation 6% accounts payable at March 31 are the result of March purchases of inventory f Monthly expenses are as follows: t these expenses are paid monthly. Depreciation is $945 per month (includes depreciation on new assets) company has arn of sales. Assume that are g. Equipment costing $1,400 will be purchased for cash in April. h. Management would like to maintain a minimum cash balance of at least $4,000 at the end of each month. The agreement with a local bank that allows the company to borrow in increments of $1,000 at the beginning of each month, up to a total loan balance of $20,000. The interest rate on these loans is 1% per month and for simplicity we will assume that interest is not compounded. The company would, as far as it is able, repay the loan plus accumulated interest at the end of the quarter hi Calculstor