Question 9 Prepare a cash disbursement schedule for the months of April, May and June 2019 for Mario Brothers, Inc. based on the following information: a. Sales: February = $500,000; March = $500,000; April = $560,000; May = $610,000; June = $650,000; July = $650,000 b. C. d. e. f. 8 h.. i. Purchases are calculated as 60% of the next month's sales, 10% of purchases are made in cash, 50% of purchases are paid for 1 month after purchase, and the remaining 40% of purchases are paid for 2 months after purchase. The firm pays rent of $8,000 per month. Base wage and salary costs are fixed at $6,000 per month plus a variable cost of 7% of the current month's sales. A tax payment of $54,500 is due in June New equipment costing $75,000 will be bought and paid for in April An interest payment of $30,000 is due in June Dividends of $12,500 will be paid in April No principal repayments or retirements are due during these months Question 10 Prepare a 2013 proforma balance sheet for Blue Mango Inc. based on the 2012 balance sheet and the conditions below. Indicate the amount, if any, of external financing that Blue Mango will need for 2013. The company expects sales of $3 million for 2013 a. b. The company wants to maintain a minimum cash balance of $50,000. C. A new machine that costs $90,000 will be purchased during 2013 and total depreciation for the year will be $32,000. Marketable securities are expected to remain the same. d. ni f. 2 09 h. i. j. Accounts receivable represent 10% of sales. Inventories represent 12% of sales. Accounts payable represent 14% of sales. Accruals, other current liabilities, long-term debt and common stock are expected to remain the same. Net profit margin is 4%. The firm expects to pay out $70,000 in cash dividends during 2013. Leonard Industries Balance Sheet December 31, 2012 Assets Cash Marketable securities Accounts receivable Inventories $ 45,000 15,000 255,000 340,000 Total current assets $655,000- Net fixed assets 600,000 $1,255,000 Total assets Liabilities and Stockholders' Equity Accounts payable Accruals Other current liabilities Total current liabilities Long-term debt Total liabilities Common stock Retained earnings Total liabilities and stockholders' equity $ 395,000 60,000 30,000 $ 485,000 350,000 $ 835,000 200,000 220,000 $1,255,000