PM7-45A (similar to) Sheet Printing Supply of Baltimore has applied for a loan Its bank has requested a budgeted income statement for April 2024 and budgeted balance sheet at April 30,2024. The March 31, 2024, balance sheet follows: Click the icon to view the balance sheet) Requirement 1. Prepare the sales budget for April Stet Printing Supply Sales Budget For In Mouth Ended April 30,2024 Total budgeted sales Click to d the rec Sheet Printing Supply Balance Sheet March 31, 2024 Assets Current Assets Cash $ 50.500 12,400 12.100 Accounts Receivable Merchandise Inventory Total Current Assets Property, Plant, and Equipment Equipment and Fixtures 75,000 80 700 (12,300) Less: Accumulated Depreciation 68.400 $ 143,400 Total Assets Liabilities Current Liabilities Accounts Payable $ 8.500 Stockholders' Equity $ Common Stock, no par 25 000 109,900 Retained Earnings Total Stockholders' Equity 134,900 $ 143,400 Total Liabilities and Stockholders' Equity Print Done Clear All e Month Ended April 30. 2024 i More Info e. a. April dividends of $4,500 were declared and paid. b. April capital expenditures of $16,000 budgeted for cash purchase of equipment c. April depreciation expense, $400. d. Cost of goods sold, 40% of sales. Desired ending inventory for April is $21,200. f. April selling and administrative expenses include salaries of $33,000, 30% of which will be paid in cash and the remainder paid next month. g. Additional April selling and administrative expenses also include miscellaneous expenses of 15% of sales, all paid in April h. April budgeted sales, $86,000, 75% collected in April and 25% in May. i. April cash payments of March 31 liabilities incurred for March purchases of inventory, $8,500 j. April purchases of inventory. $5,700 for cash and $37 800 on account. Half the credit purchases will be paid in April and half in May. Print Done 0 Requirements 1. Prepare the sales budget for April. 2. Prepare the inventory, purchases, and cost of goods sold budget for April 3. Prepare the selling and administrative expense budget for April. 4. Prepare the schedule of cash receipts from customers for April 5. Prepare the schedule of cash payments for selling and administrative expenses for April. 6. Prepare the cash budget for April. Assume the company does not use short-term financing to maintain a minimum cash balance 7. Prepare the budgeted income statement for April 8. Prepare the budgeted balance sheet at April 30, 2024. Print Done Clear All 1200 brodina