can someone help me with required 6,7 and 8 pleaseee?

these are the previous parts! thank you so much

Near the end of 2019, the management of Dimsdale Sports Co., a merchandising company, prepared the following estimated balance sheet for December 31, 2019. DIMSDALE SPORTS COMPANY Estinated Balance Sheet December 31, 2019 Assets $ 35,500 520,000 95,000 Cash Accounts receivable Inventory Total current assets Equipment LessI Accumalated depreciation Equipment, net $ 650,500 612,000 76,500 535,500 Total ansets $1,186,000 Liabilities and Equity $375,000 12,000 89,000 Accounts payable Bank loan payable Taxes payable (due 3/15/2020) Total liabilities Common stock Retained earnings Total stockholders' equity $ 476,000 472,000 238,000 710,000 $1,186,000 Total liabilities and equity To prepare a master budget for January, February, and March of 2020, management gathers the following information. a. The company's single product is purchased for $20 per unit and resold for $58 per unit. The expected inventory level of 4,750 units on December 31, 2019, is more than management's desired level, which is 20% of the next month's expected sales (in units). Expected sales are January, 6,750 units; February, 9,500 units; March, 10,750 units; and April, 10,500 units. b. Cash sales and credit sales represent 20% and 80%, respectively, of total sales. Of the credit sales, 63% is collected in the first month after the month of sale and 37% in the second month after the month of sale. For the December 31, 2019, accounts receivable balance, $125,000 is collected in January 2020 and the remaining $395,000 is collected in February 2020. c. Merchandise purchases are paid for as follows: 20% In the first month after the month of purchase and 80% in the second month after the month of purchase. For the December 31, 2019, accounts payable balance, $65,000 is paid in January 2020 and the remaining $310,000 is paid in February 2020. d. Sales commissions equal to 20% of sales are paid each month. Sales salaries (excluding commissions) are $66,000 per year. e. General and administrative salaries are $144,000 per year. Maintenance expense equals $2,000 per month and is paid in cash. 1. Equipment reported in the December 31, 2019, balance sheet was purchased in January 2019. It is being depreciated over elght years under the straight-line method with no salvage value. The following amounts for new equipment purchases are planned in the coming quarter: January, $31,200; February, $96,000; and March, $24,000. This equipment will be depreciated under the straight- line method over eight years with no salvage value. A full month's depreciation is taken for the month in which equipment is purchased. g. The company plans to buy land at the end of March at a cost of $150,000, which will be paid with cash on the last day of the month. The comnanu hae a nrkinn arrannemeant uth ite hank tn nhtain adritinnal Inane se naaded The intaraet rata le 17 nar unar and Total liabilities and equity $1,186,000 To prepare a master budget for January, February, and March of 2020, management gathers the following information. a. The company's single product is purchased for $20 per unit and resold for $58 per unit. The expected inventory level of 4,750 units on December 31, 2019, is more than management's desired level, which is 20% of the next month's expected sales (in units). Expected sales are January, 6,750 units; February, 9,500 units; March, 10,750 units; and April, 10,500 units. b. Cash sales and credit sales represent 20% and 80%, respectively, of total sales. Of the credit sales, 63% is collected in the first month after the month of sale and 37% in the second month after the month of sale. For the December 31, 2019, accounts receivable balance, $125,000 is collected in January 2020 and the remaining $395,000 is collected in February 2020. c. Merchandise purchases are paid for as follows: 20% in the first month after the month of purchase and 80% In the second month after the month of purchase. For the December 31, 2019, accounts payable balance, $65,000 is paid in January 2020 and the remaining $310,000 is paid in February 2020. d. Sales commissions equal to 20% of sales are paid each month. Sales salaries (excluding commissions) are $66,000 per year. e. General and administrative salaries are $144,000 per year. Maintenance expense equals $2,000 per month and is paid in cash. 1. Equipment reported in the December 31, 2019, balance sheet was purchased in January 2019. It is being depreciated over eight years under the straight-line method with no salvage value. The following amounts for new equipment purchases are planned in the coming quarter. January, $31,200; February, $96,000; and March, $24,000. This equipment will be depreciated under the straight- line method over eight years with no salvage value. A full month's depreciation is taken for the month in which equipment is purchased. g. The company plans to buy land at the end of March at a cost of $150,000, which will be paid with cash on the last day of the month. h. The company has a working arrangement with its bank to obtain additional loans as needed. The interest rate is 12% per year, and Interest is paid at each month-end based on the beginning balance. Partial or full payments on these loans can be made on the last day of the month. The company has agreed to maintain a minimum ending cash balance of $28,000 at the end of each month. i. The income tax rate for the company is 37%. Income taxes on the first quarter's income will not be paid until April 15. Required: Prepare a master budget for each of the first three months of 2020; include the following component budgets. 1. Monthly sales budgets. 2. Monthly merchandise purchases budgets. 3. Monthly selling expense budgets. 4. Monthly general and administrative expense budgets. 5. Monthly capital expenditures budgets. 6. Monthly cash budgets. 7. Budgeted income statement for the entire first quarter (not for each month). 8. Budgeted balance sheet as of March 31, 2020. Required 6 Calc Required 2 Required 6 Cash Bud Required 1 Required 3 Required 4 Required 5 Required 7 Required 8 Monthly cash budgets. (Negative balances and Loan repayment amounts (if any) should be indicated with minus sign. Round your final answers to the nearest whole dollar.) DIMSDALE SPORTS CO. Cash Budget January, February, and March 2020 January February March Beginning cash balance Cash receipts from customers Total cash available Cash payments for: Total cash payments Preliminary cash balance Ending cash balance Loan balance January February March Loan balance - Beginning of month Additional loan (loan repayment) Loan balance - End of month Required 6 Calc Required 6 Cash Bud Required 2 Required 3 Required 4 Required 1 Required 5 Required 7 Required 8 Budgeted income statement for the entire first quarter (not for each month). (Round your final answers to the nearest whole dollar.) DIMSDALE SPORTS CO. Budgeted Income Statement For Three Months Ended March 31, 2020 Operating expenses Total operating expenses %2$ Required 7 not for 7. Budgeted income statement 8. Budgeted balance sheet as of March 31, 2020. rter Complete this question by entering your answers in the tabs below. Required 6 Cash Bud Required 6 Calc Required 4 Required 2 Required 3 Required 7 Required 8 Required 5 Required 1 Monthly general and administrative expense budgets. January February March Equipment - beginning of month 612,000 %24 Equipment purchases Equipment- end of month DIMSDALE SPORTS CO. General and Administrative Expense Budget January, February, and March 2020 March January February Salaries expense 12,000 12,000 12,000 2,000 14,000 $ 36,000 Maintenance expense 2,000 2,000 6,000 Total 14,000 $ 42,000 %2$ 14,000 $S ( Required 3 Required 5 > 8. Budgeted balance sheet as of March 31, 2020. Complete this question by entering your answers in the tabs below. Required 6 Calc Required 6 Cash Bud Required 1 Required 4 Required 5 Required 2 Required 3 Required 7 Required 8 Monthly capital expenditures budgets. DIMSDALE SPORTS COMPANY Capital Expenditures Budget January, February, and March 2020 January February March Total Equipment purchases Land purchase 31,200 $ ofs 96,000 $ 24,000 $ 151,200 150,000 174,000 $ 150,000 96,000 S 31,200 $ 24 Total 301,200 >