Excell formulas please

Paste 3 Merge & Center $ % Format Painter Clipboard Undo Font 5 Alignment Numbe v A4 X fx and provided the following sales budget for the second quarter of 20YY. A B D E F G H 1 Problem 3: Purchase budget and Cash payment schedule 2 3 Clean Energy Inc. is preparing its inventory purchase budget for the second quarter of 20YY 4 and provided the following sales budget for the second quarter of 20 YY 5 6 April May June 7 Projected sales $500,000 $600,000 $700,000 8 9 The following relevant information are also provided: 10 11 Budgeted monthly cost of goods sold equals 25% budgeted monthly sales 12 Each month's desired ending inventory should be $20,000 plus 10% of the current month's COGS 13 The ending inventory balance at March 31 20YY was $30,000 14 All purchases are made on account 15 The company's suppliers require that 40% of accounts payable are paid during the month of purchase, 16 with the remaining 60% paid in the month after purchase. 17 The outstanding accounts payable at March 31, 20YY was $102,500 which is to be paid in April. 18 19 Required: 20 Use the Table below to prepare. 21 a Purchase Budget and Cash Payment Schedule for the second quarter of 20YY 22 23 Solution: 24 Siddique, Salina: 25 Inventory purchases budget for Second quarter 20YY Record here the total Budgeted COGS to be rep 26 April May June Proforma statement data Budgeted Income Statement for the Second Qu 27 Purchase Budget $ $ $ $ 28 Budgeted cost of goods sold 29 Desired ending inventory Siddique, Salina: Record here the Desired Ending inventory to be res 30 Total inventory needed the Budgeted Balance Sheet as at Jume 30, 2011 31 Less beginning inventory 32 Required inventory purchases 33 Cash Payment Schedule for Inventory Purchase 34 Cash payments for: $ $ 35 Current month's inventory purchases Siddique, Salina: Record here the amount of Expected Accounts 36 Previous month's inventory purchases reported in the Budgeted Balance Sheet as at Ju 37 Total cash payments for inventory 38 Siddique, Salina: 39 Record here the total cash payment for inventory the Cash Budget for the second quarter 2074 40 41 42 43