Green Company has the following post-closing trial balance on December 31, 2016:

The company€™s accounting department has gathered the following budgeting information for the first quarter of 2017:
Budgeted total sales, all on account ............... $121,200
Budgeted purchases of merchandise inventory, all on account ....60,900
Budgeted cost of goods sold..................60,600
Budgeted selling and administrative expenses:
Commissions expense.................... 6,060
Salaries expense .......................12,000
Rent expense ........................ 5,600
Depreciation expense .................... 1,400
Insurance expense ..................... 400
Budgeted cash receipts from customers ............ 114,840
Budgeted cash payments for merchandise inventory.......59,600
Budgeted cash payments for salaries and commissions ......17,636
Budgeted income tax expense ................. 4,000
Additional information:
Rent and income tax expenses are paid as incurred. Insurance expense is an expiration of the prepaid amount.
Requirements
1. Prepare a budgeted income statement for the quarter ended March 31, 2017.
2. Prepare a budgeted balance sheet as of March 31, 2017.
3. Prepare a budgeted statement of cash flows for the quarter ended March 31, 2017.

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GREEN COMPANY Post-Closing Trial Balance December 31, 2016 Debit Credit Account Cash Accounts Receivable Merchandise Inventory Prepaid Insurance Equipment and Fixtures Accumulated Depreciation Accounts Pavable Salaries and Commissions Payable Common Stock Retained Earnings Totals S 23,000 12,000 16,500 1,600 40,000 S 14,000 11,000 3,200 21,000 43,900 93,100 93,100