Calculations Required - Jasdeep's Plant Store, a retailer, started operations on January 1. On that date, the only assets were $16,000 in cash and $3,500 in merchandise inventory. For purposes of budget preparation, assume that the company's cost of goods sold is 60% of sales. Expected sales for the first four months appear below. Expected Sales January $10,000 February 24,000 March 16,000 April 25,000 1. In a budgeted income statement for the month of February, net income would be ? 2. In a budgeted balance sheet, the merchandise inventory on February 28 would be ? 3. The accounts receivable balance that would appear in the March 31 budgeted balance sheet would be ? 4.In a budget of cash receipts for March, the total cash receipts would be ? 5.In a budget of cash disbursements for March, the total cash disbursements would be ?