What is the completed balance sheet and how did you find it?

Part 6. 0 Balance Sheet March 31 Current Assets : Cash A/R Inventory Total current assets Property and equipment, net Total Assets 9,335 88,800 86,190 184,325 Current Liabilities A/P Line of Credit Payable Total Liabilities Stockholders' Equity Capital Stock Retained Earnings Total SE Total Liabilities and SE E Quarter 51,200 792,000 843,200 522,735 D Part 4. e 3 Cash Budget . For the Quarter Ended March 31 5 January February March 5 Beginning Cash Balance 51,200 5,981 5,592 - Add Cash Receipts 227,000 271,700 293,300 3 Cash Available 278,200 277,681 298,892 - Less Payments 0 For Inventory Purchases 155,819 184,929 181,987 1 For Operating Expenses 77,400 85,050 86,400 2 For Land Purchase 8,000 4,000 3 For Dividends 50,000 0 0 4 Total Budgeted Payments 283,219 277,979 272,387 5 Surplus/(Shortage) (5,019) (298) 26,505 6 Financing Activity 7 Borrowing 11,000 6,000 0 8 Interest Expense Payment 0 (110) (170) 9 Principal Repayment 0 0 (17,000) 20 Ending Cash Balance 5,981 5,592 9,335 21 2 Monthly interest rate 1% 23 248,850 12,000 50,000 833,585 9,615 17,000 (280) (17,000) 9,335 Part 5. 819,000 532,350 286,650 Income Statement For the Quarter Ended March 31 Revenues Cost of Goods Sold Gross Margin Operating Expenses: Salaries and wages 90,000 Advertising 36,000 Shipping 40,950 Other Expenses 81,900 Depreciation 9,000 Total Operating Expenses Net Operating Income Less: Interest Expense Income Before Taxes 257,850 28,800 (280) 29,080 1 Part 3 2 3 Schedule of Cash Payments for S&A Expenses January February March Total 4 Salary Expense 30,000 30,000 30,000 90,000 5 Advertising 12,000 12,000 12,000 36,000 11,800 14,350 14,800 40,950 6 Shipping 7 Other Expenses 23,600 28,700 29,600 81,900 8 Cash payments for operating expenses 77,400 85,050 86,400 248,850 1 2 3 Cash Payments January February Payments Payments 101,000 0 54,819 127,911 March Payments 0 Total Payments 101,000 From Accounts Payable 5 From January Purchases s From February Purchases 0 182,730 190,060 0 57,018 133,042 7 From March Purchases 0 0 48,945 48,945 3 Total Payments 155,819 184,929 181,987 522,735 Accounts Payable at March 31 will be 114.205 1 Part 1. Sales February January March Total Cash Sales 165,200 200,900 207,200 573,300 Credit Sales 70,800 86,100 88,800 245,700 Total Sales 236,000 287,000 296,000 819,000 1 2 3 Cash Sales from this month Collections January February 165,200 200,900 March 207,200 Total 573,300 86,100 218,700 293,300 792,000 4 Credit Sales from last month 61,800 70,800 5 Total Collections 227,000 271,700 6 7 Accounts Receivable at March 31 will be 88,800 8 9 0 1 Part 2 -2 Inventory Purchases 23 January February 4 Budgeted Cost of Sales 153,400 186,550 25 Desired Ending Inventory 111,930 115,440 26 Total Inventory Needs 265,330 301,990 27 Less Beginning Inventory 82,600 111,930 28 Required Purchases 182,730 190,060 March Total 532,350 192,400 86,190 278,590 86,190 618,540 115,440 82,600 163,150 535,940 Credits December 31 Trial Balance Cash Accounts Receivable Inventory Property and Equipment (net) Accounts Payable Capital Stock Retained Earings Total Debits 51,200 61,800 82,600 80,600 101,000 45,300 129,900 276,200 276,200 Monthly Sales January February March April 236,000 287,000 296,000 221,000 Cash Sales percentage Credit Sales percentage 70% 30% Desired Ending Inventory Gross Margin Percentage Cost of Goods Sold 60% of following month's needs 35% of sales 65% 30% 70% Cash payments for inventory In month of purchase In month after purchase Expenses Salaries Expense Advertising Expense Shipping Expense Other Expense Depreciation Expense 30,000 per month 12,000 per month 5% of sales 10% of sales 9,000 per quarter D 65% 24 Cost of Goods Sold 25 26 Cash payments for inventory 27 In month of purchase 28 In month after purchase 29 Expenses 30 Salaries Expense 31 Advertising Expense 32 Shipping Expense 33 Other Expense 34 Depreciation Expense 30% 70% 30,000 per month 12,000 per month 5% of sales 10% of sales 9,000 per quarter 35 36 Other cash payments 37 Dividends paid in January 38 Land purchased in February 39 Land purchased in March 50,000 8,000 4,000 40 41 42 Incremment for borrowing payment 43 44 45 1,000 AR