Walton, Inc. sells fireworks. The company's marketing director developed the following cost of goods sold budget for April May June, and July April May June July Budgeted cost of goods sold 568,000 $78,000 $88,000 $94,000 Walton had a beginning inventory balance of $2,700 on April and a beginning balance in accounts payable of $15,100 The company desires to maintain an ending inventory balance equal to 15 percent of the next period's cost of goods sold Walton makes all purchases on account. The company pays 60 percent of accounts payable in the month of purchase and the remaining 40 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 Required D Prepare an Inventory purchases budget for April, May, and June 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. Inventory Purchases Budget Budgeted cost of goods sold April May June $ 68,000 $ 78,000 $ 88,000 Inventory needed 68,000 78,000 88,000 Required purchases (on account) $ 68,000 $ 78,000 $ 88,000 Complete this question by entering your answers in the tabs below. Required A Required B Required Required D Determine the amount of ending inventory Walton will report on the end-of-quarter pro forma balance sheet. Ending inventory Complete this question by entering your answers in the tabs below. Required A Required B Required Required D Determine the balance in accounts payable Walton will report on the end-of-quarter pro forma balance sheet. Accounts payable