tivity analysis assuming that April sales are only $60,000 rather than the $90,000 originally budgeted. While the cost of goods sold will change, assume that purchases, depreciation, and the other operating expenses will remain the same as in the earlier requirements.) a. Prepare a revised budgeted balance sheet for Hugo Medical Supply, showing separate computations for cash, inventory, and owners' equity balances. b. Suppose Hugo Medical Supply has a minimum desired cash balance of $25,000. Will the company need to borrow cash in April? P9-63A Cost of goods sold, inventory, and purchases budget (Learning Objective 4) College Logos buys logo-imprinted merchandise and then sells it to university book- stores. Sales are expected to be $2,003,000 in September, $2,230,000 in October, $2,376,000 in November, and $2,520,000 in December. College Logos sets its prices to earn an average 30% gross profit on sales revenue. The company does not want inventory to fall below $435,000 plus 15% of the next month's cost of goods sold. Requirement Prepare and November a cost of goods sold, inventory, and purchases budget for the months of October P9-64A Prepare comprehensive budgets for a retailer (Learning Objectives 2, 3, & 4) Dollar Dime Store is a local discount store with the following information: October sales are projected to be $350,000. Sales are projected to increase by 15% in November and another 20% in December 0 and then return to the October level in January. 30% of sales are made in cash while the remaining 70% are paid by credit or debit -- re) chara e a 2% transac