To the left are the instructions and to the right is the balance sheet I did (part i ) however it is $75 off and I cannot figure out what I did wrong!

just need help with part i , the balance sheet

Joici Company is a retail company that speciallzes in selling outdoor camping equipment. The company is considering opening a new store on October 1, 2006. The company president formed a planning committee to prepare a master budget for the first three months of operation. He assigned you, the budget coordinator, and the following tasks. Assets Cash Accounts Receivable Inventory Store Fixtures, net of depreciation Total Assets $12,525.00 112,500.00 12,000.00 152,000.00 Requirecd October sales are estimated to be $120,000 of which 40 percent will be cash and 60 percent will be credit. The company expects sales to increase at the rate of 25 percent per month Prepare a sales budget. a. $ 289,025.00 b. The company expects to collect 100 percent of the accounts receivable generated by credit Liabilities and Stockholders' Equity sales in the month following the sale. Prepare a schedule of cash receipts. The cost of goods sold is 60 percent of sales. The company desires to maintain a minimum ending inventory equal to 10 percent of the next month's cost of goods sold. Ending inventory at December 31 is expected to be $12,000. Assume that all purchases are made on account. Prepare an inventory purchases budget. Accounts Payable Loans Payable Sales commssions payable Utilities payable Total Liabilities and Stockholders' Equity $71,325.00 $ 207,000.00 59,375.00 1,400.00 C. d. The company pays 70 percent of accounts payable in the month of purchase and the remaining 30 percent in the following month. Prepare a cash payments budget for inventory purchases. Budgeted selling and administrative expenses per month follow. $ 289,100.00 e. Salary expense (fixed) Sales commissions Supplies expense Utilities (fixed) $18,000 5 percent of Sales 2 percent of Sales $1.400 $4,000 $4,800 $1,200 Depreciation on store equipment (fixed) Rent (fixed) Miscellaneous (fixed) The capital expenditures budget indicates that unici will spend $164,000 on October 1 for store fixtures, which are expected to have a $20,000 salvage value and a three-year (36- month) useful life. Use this information to prepare a selling and administrative expenses budget. f. Utilities and sales commissions are paid the month after they are incurred; all other expenses are paid in the month in which they are incurred. Prepare a cash payments budget for selling Uoici borrows funds, in increments of $1,000, and repays them on the last day of the month The company also pays its vendors on the last day of the month. It pays interest of 1 percent per month in cash on the last day of the month. To be prudent, the company desires to maintain a $12,000 cash cushion. Prepare a cash budget 9. h. Prepare a pro forma income statement for the quarter. i. Prepare a pro forma balance sheet at the end of the quarter . Prepare a pro forma statement of cash fiows for the quarter