Walton, Inc. sells fireworks. The company's marketing director developed the following cost of goods sold budget for April, May, June, and July. Budgeted cost of goods sold April $73,000 May July $83,000 $93,000 $99,000 June Walton had a beginning inventory balance of $3,000 on April 1 and a beginning balance in accounts payable of $14,500. The company desires to maintain an ending inventory balance equal to 10 percent of the next period's cost of goods sold. Walton makes all purchases on account. The company pays 65 percent of accounts payable in the month of purchase and the remaining 35 percent in the month following purchase. Required a. Prepare an inventory purchases budget for April, May, and June. b. Determine the amount of ending inventory Walton will report on the end-of-quarter pro forma balance sheet. c. Prepare a schedule of cash payments for inventory for April, May, and June. d. Determine the balance in accounts payable Walton will report on the end-of-quarter pro forma balance sheet. Complete this Required a. Prepare an inventory purchases budget for April, May, and June. b. Determine the amount of ending inventory Walton will report on the end-of-quarter pro forma balance sheet. c. Prepare a schedule of cash payments for inventory for April, May, and June. d. Determine the balance in accounts payable Walton will report on the end-of-quarter pro forma balance sheet. Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D Prepare an inventory purchases budget for April, May, and June. June, Inventory Purchases Budget April May Budgeted cost of goods sold $ 73,000 $ 83,000 $93,000 Inventory needed Required purchases (on account) Budgeted cost of goods sold April May June July $73,000 $83,000 $93,000 $99,000 Walton had a beginning inventory balance of $3,000 on April 1 and a beginning balance in accounts payable of $14,500. The company desires to maintain an ending inventory balance equal to 10 percent of the next period's cost of goods sold. Walton makes all purchases on account. The company pays 65 percent of accounts payable in the month of purchase and the remaining 35 percent in the month following purchase. Required a. Prepare an inventory purchases budget for April, May, and June. b. Determine the amount of ending inventory Walton will report on the end-of-quarter pro forma balance sheet. c. Prepare a schedule of cash payments for inventory for April, May, and June. d. Determine the balance in accounts payable Walton will report on the end-of-quarter pro forma balance sheet. Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D Determine the amount of ending inventory Walton will report on the end-of-quarter pro forma balance sheet. Ending inventory Walton, Inc. sells fireworks. The company's marketing director developed the following cost of goods sold budget for April, May, June, and July. Budgeted cost of goods sold April May $73,000 $83,000 June July $93,000 $99,000 Walton had a beginning inventory balance of $3,000 on April 1 and a beginning balance in accounts payable of $14,500. The company desires to maintain an ending inventory balance equal to 10 percent of the next period's cost of goods sold. Walton makes all purchases on account. The company pays 65 percent of accounts payable in the month of purchase and the remaining 35 percent in the month following purchase. Required a. Prepare an inventory purchases budget for April, May, and June. b. Determine the amount of ending inventory Walton will report on the end-of-quarter pro forma balance sheet. c. Prepare a schedule of cash payments for inventory for April, May, and June. d. Determine the balance in accounts payable Walton will report on the end-of-quarter pro forma balance sheet. Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D Prepare a schedule of cash paymiants for inventory for April, May, and June. (Round your final answers to the nearest whole dollar.) Schedule of Cash Payments April May June Payment of current accounts payable. Payment of previous accounts payable Total budgeted payments for inventory Walton, Inc. sells fireworks. The company's marketing director developed the following cost of goods sold budget for April, May, June, and July. Budgeted cost of goods sold April May July $73,000 $83,000 $93,000 $99,000 June t inces Walton had a beginning inventory balance of $3,000 on April 1 and a beginning balance in accounts payable of $14,500. The company desires to maintain an ending inventory balance equal to 10 percent of the next period's cost of goods sold. Walton makes all purchases on account. The company pays 65 percent of accounts payable in the month of purchase and the remaining 35 percent in the month following purchase. Required a. Prepare an inventory purchases budget for April, May, and June. b. Determine the amount of ending inventory Walton will report on the end-of-quarter pro forma balance sheet. c. Prepare a schedule of cash payments for inventory for April, May, and June. d. Determine the balance in accounts payable Walton will report on the end-of-quarter pro forma balance sheet. Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D Determine the balance in accounts payable Walton will report on the end-of-quarter pro forma balance sheet. Accounts payable