Young is a retailer of assorted baby products. The sales forecast for the coming months is: Revenues April ay 175,000 $ 200,000 June 225,000 July August $ 240,000 $ 230,000 Young's cost of sales averages 60% of revenues. The inventory policy is to carry 30 % of next month's sales needs. April 1 inventory will be as expected under the policy. Young pays for purchases 80% in the month of purchase and 20% the following month. Accounts payable on April 1 is $22,400 a. Prepare a purchases budget for April b. Prepare a cash payments budget for April