Use the data provided and the budgets you prepared for JKL Corporation ^^^^^(above) so that you can develop the following projected financial statements:

1- Proforma statement of situation as of June 30, 20xx.

2- Proforma income and expense statement for the quarter ended June 30, 20xx.

3- Proforma statement of cash flows for the quarter ended June 30, 20xx.

Then complete the following table of financial analysis rates. Show the calculation to obtain each rate.

ratios	June 20xx	Calculation
current ratio
Acid-test ratio
accounts receivable turn-over
average collection period
inventory turn-over
average sales period
Debt/Assets
(debt-equity ratio)
Times interest earned ratio
gross margin percentage
Net Margin
ROI: return on investment

JKL Corporation Sales Budget ReqA Cash sales Sales on account Total budgeted sales April 15,700 62,800 78,500 May 14,900 59,600 74,500 June 16,020 64,080 80,100 Quarter 46,620 186,480 233,100 Calculation April 78500 20% 78500*80% May 74500*20% 74500*80% June 80100%20% 80100*80% Calculation April May June Schedule of cash receipts ReqB Cash sales Credit sales collections Total collections April 15,700 64,000 79,700 May 14,900 62,800 77,700 June Quarter 16,020 46,620 59,600 186,400 75,620 233,020 Inventory Purchase budget Reqc Budgeted cost of goods sold Add Desired Ending Inventory Inventory Needed Less Beginning Inventory Required Purchases April May June 56,520 53,640 57,672 13,410 14,418 9,594 69,930 68,058 67,266 15,400 13,410 14,418 54,530 54,648 52,848 Quarter April 167,832 78500*(1-28%) 9,594 53640*25% 177,426 15,400 Given in Bal Sheet 162,026 May 74500*(1-28%) 57672-25% June 80100*(1-28%) -53300*(1-28%)*25% End Inv of April End Inv of May May Schedule of cash payments budget for Inventory Purchases ReqD April May June Quarter April Payment of current months purchases 21,812 21,859 21,139 64,810 54530*40% Payment of prior months purchases 23,400 32,718 32,789 88,907 Given in Bal Sheet Total disbursements for purchases 45,212 54,577 53,928 153,717 54648*40% 54530-60% June 52848 40% 54648 60% April May June April 9,100 4,350 7,065 20,515 May 9,100 4,350 6,705 20,155 June 9,100 4,350 7,209 20,659 Quarter 27,300 13,050 20,979 61,329 78500*9% 74500*9% 80100*9% April May June April May June Quarter 20,000 11,873 8,141 20,000 79,700 77,700 75,620 233,020 99,700 89,573 83,761 253,020 Admin & Sales Expenses Budget ReqE Salaries Advertising Miscellaneous Total Payments for Admin & sales exps Cash budget ReqF Beginning Cash balance Cash collections Cash available Less Outlays Shoppings Admin & sales expenses Purchase of equipment Dividends Total disbursements Cash excess (deficiency) Financing Loan Loan Payments Interest Total Financing Ending Cash balance 45,212 20,515 22.100 54,577 20,155 12,700 53,928 20,659 153,717 61,329 34,800 2,700 252,546 474 87,827 11,873 87,432 2,141 2,700 77,287 6,474 6,000 2,000 8,000 8000-2000 8000-6000 Rounded off 2,141 to 2,000 for borrowings 6,000 8,141 (60) 1,940 8,414 (60) 7,940 8,414 11,873 Financial and operational data of JKL Corp The JKL Corporation is in the trading business and is designing its master budget for the next quarter of operations from April to June 20xx. The data collected and necessary to work with such a budget are the following: A. Certain data from the Balance Sheet as of March 31, 20xx Dr. Cr. $20,000 $64,000 $15,400 $225,000 Cash Accs Receivable Inventory Buildings and equipment (net of depreciation) Accounts Payable Long-term debt Common shares - capital Retained earnings Total $23.400 $90,000 $150,000 $61,000 $324,400 $324,400 B. The expected (projected) and actual sales for various months of 20xx are: March (actual) $80,000 April $78,500 May $74,500 June $80,100 $53,300 C. Other important data: 1- Monthly sales are 20% in cash and 80% on credit. Credit sales from the previous month are charged in full in the following month (therefore, what is in accounts receivable at the end of March is 80% of March sales). 2- The gross profit margin generated by the corporation on its sales is 28%. 3- The ending inventory for each month is equal to 25% of the budgeted cost of sales for the next month. 4-40% of monthly merchandise purchases are paid in the month of purchase and the remainder in the month following the purchase. 5- The expected monthly expenses are: salaries, $ 9,100; advertising, $ 4,350 per month and remaining expenses (except depreciation) represent 9% of sales. It assumes that these expenses are paid every month (nothing is owed at the end of the month). 6- The depreciation expense is $10,000 for the quarter and includes the portion that corresponds to the assets acquired during the period. 7- Cash equipment was acquired: $ 22,100 in April and $ 12,700 in May 20xx