Data Table Tune Printing Supply Balance Sheet March 31, 2018 Assets Current Assets: Cash 50,200 17,100 Accounts Receivable 12,600 Merchandise Inventory Total Current Assets 79,900 Property, Plant, and Equipment: Equipment and Fixtures 81,200 68,800 (12,400) Less: Accumulated Depreciation $148,700 Total Assets Liabilities Current Liabilities $ 7,900 Accounts Pavable Stockholders' Equity Common Stock, no par 24,000 116,800 Retained Earnings 140,800 Total Stockholders' Equity $ 148,700 Total Liabilities and Stockholders' Equity More Info April dividends of $4,000 were declared and paid. April capital expenditures of $16,900 budgeted for cash purchase of equipment. April depreciation expense, $500. Cost of goods sold, 45% of sales. Desired ending inventory for April is $29,500. a. b. c. d. e. f. April selling and administrative expenses include salaries of $29,000, 25% of which will be paid in cash and the remainder paid next month. Additional April selling and administrative expenses also include miscellaneous expenses of g. 5% of sales, all paid in April. April budgeted sales, $85,000, 50% collected in April and 50% in May. April cash payments of March 31 liabilities incurred for March purchases of inventory, $7,900. April purchases of inventory, $17,350 for cash and $37,800 on account. Half the credit h. i. j. purchases will be paid in April and half in May. Print Done Requirements 1 1. Prepare the sales budget for April. 2. Prepare the inventory, purchases, and cost of goods sold budget for April. 3. Prepare the selling and administrative expense budget for April. 4. Prepare the schedule of cash receipts from customers for April. 5. Prepare the schedule of cash payments for selling and administrative expenses for April. 6. Prepare the cash budget for April. Assume the company does not use short-term financing to maintain a minimum cash balance. 7. Prepare the budgeted income statement for April. 8. Prepare the budgeted balance sheet at April 30, 2018. Print Done