Can you provide these answer by the due date submitted

1. Preparing an inventory purchases budget Tucker Lighting Company sells lamps and other lighting fixtures. The purchasing department manger prepared the following inventory purchases budget. Tucker Lighting's policy is to maintain an ending inventory balance equal to 10 percent of the following month's cost of goods sold. April's budgeted cost of goods sold is $85,000. January February March Budgeted cost of goods sold $70,000 $74,000 $80,000 Plus: Desired ending inventory 7,400 ? ? Inventory needed $77,400 ? ? Less: Beginning Inventory 18,000 ? ? Required purchases (on account)$59,400 ? ? (a) Complete the inventory purchases budget by filling in the missing amounts. (b) Determine the amount of cost of goods sold the company will report on its first quarter pro forma income statement. (c) Determine the amount of ending inventory the company will report on its pro forma balance sheet at the end of the first quarter. 2. Preparing a cash budget: The accountant for Lori's Dress Shop prepared the following cash budget. Lori's desires to maintain cash cushion of $14,000 at the end of each month. Funds are assumed to be borrowed and repaid on the last day of each month. Interest is charged as the rate of 2 percent per month. Cash Budget July August September Section 1: Cash receipts Beginning cash balance $43,000 $? $? Add cash receipts 183,000 196,000 240,200 Total cash available (a) $226,000 ? ? Section 2: Cash payments For inventory purchases 163,646 139,900 172,474 For S&A expenses 54,000 62,060 61,536 For interest expense 0 ? ? Total budgeted disbursements (b) 217,646 ? ? Section (3): Financing activities Surplus (shortage) 8,354 ? ? Borrowed (repayments) 5,646 ? ? Ending cash balance (a - b + c) $14,000 $14,000 $14,000 (a) Complete the cash budget by filling in the missing amounts. Round all computations to the nearest whole dollar. (b) Determine the amount of net cash flows from operating activities Lori's will report on the third quarter pro forma statement of cash flows. (c) Determine the amount of net cash flows from financing activities Lori's will report on the third quarter pro forma statement of cash flows. 3. Preparing pro forma income statements with different assumptions - Jim Denty, the controller of Grime Corporation, is trying to prepare a sales budget for the coming year. The income statements for the last four quarters follow: First Qt. Second Qt. Third Qt. Fourth Qt. Total Sales revenue $170,000 $200,000 $210,000 $260,000 $840,000 Cost of goods sold 102,000 120,000 126,000 156,000 504,000 Gross profit 68,000 80,000 84,000 104,000 336,000 Selling & admin. Expense 17,000 20,000 21,000 26,000 84,000 Net income $51,000 $60,000 $63,000 $78,0 $252,000 Historically, cost of goods sold is about 60 percent of sales revenue. Selling and administrative expenses are about 10mpercent of sales revenue. Gene Moreno, the chief executive officer, told Mr. Denty that he expected sales next year to be 10 percent above last year's level. However, Sarah Toole, the vice president of sales, told Mr. Denty that she believed sales growth would be only 5 percent. (a) prepare a pro forma income statement including quarterly budgets for the coming year using Mr. Moreno's estimate. (b) Prepare a pro forma income statement including quarterly budgets for the coming year using Ms. Toole's estimate. (c) Explain why two executive officers in the same company could have different estimates of future growth. 4. Preparing a sales budget and schedule of cash receipts-Dorough Pointers Inc. expects to begin operations on January 1, 2009; it will operate as a specialty sales company that sells laser pointers over the Internet. Dorough expects sales in January 2009 to total $120,000 and to increase 10 percent per month in February and March. All sales are on account. Dorough expects to collect 70 percent of account receivable in the month of sale, 20 percent in the month following the sale, and 10 percent in the second month following the sale. (a) Prepare a sales budget for the first quarter of 2009, (b) Determine the amount of sales revenue Dorough will report on the first 2009 quarterly pro forma income statement, (c) Prepare a cash receipts schedule for the first quarter of 2009, (d) Determine the amount of accounts receivable as of March 31, 2009. 5. Preparing pro forma income statements with different assumptions - Top executive officers of Leach Company, a merchandising firm, are preparing the next year's budget. The controller has provided everyone with the current year's projected income statement. Current Year Sales revenue $2,600,000 Cost of goods sold 1,690,000 Gross profit 910,000 Selling & admin. expenses 325,000 Net income $585,000 Cost of goods sold is usually 65 percent of sales revenue, and selling and administrative expenses are usually 10 percent of sales plus a fixed cost of $65,000. The president has announced that the company's goal is to increase net income by 15 percent. (a) What percentage increase in sales would enable the company to reach its goal? Support your answer with a pro forma income statement. (b) The market may become stagnant next year, and the company does not expect an increase in sales revenue. The production manger believes that an improved production procedure can cut cost of goods sold by 2 percent. What else can the company do to reach its goal? Prepare a pro forma income statement illustrating your proposal. (c) The company decides to escalate its advertising campaign to boost consumer recognition, which will increase selling and administrative expenses to $405,000. With the increased advertising, the company expects sales revenue to increase by 15 percent. Assume that cost of goods remains a constant proportion of sales. Can the company reach its goal? 6. Preparing a cash budget - McBride Medical Clinic has budgeted the following cash flows. January February March Cash receipts $101,000 $108,000 $125,000 Cash payments For inventory purchases 92,000 72,000 83,000 For S&A expenses 30,000 32,000 26,000 McBride Medical had a cash balance of $7,000 on January1. The company desires to maintain a cash cushion of $5,000. Funds are assumed to be borrowed, in increments of $1,000, and repaid on the last day of each month; the interest rate is 1 percent per month. McBride pays its vendor on the last day of the month also. The company had a $30,000 beginning balance in its line of credit liability account. (a) Prepare a cash budget. (Round all computations to the nearest whole dollar.)