EXERCISE TO PRACTICE FOR END OF YEAR, PLEASE HELP!

Using MS Excel, and the information provided below for Corona Company,master budget for each of the 3 months ended June 30^th, 2021 (April, May, & June); include the following component budgets (show supporting calculations as needed and round amounts to the nearest dollar):

Master budget for 3 month period ending June 30^th.Include the following detailed budgets:

1.A sales budget by month and in total (Showing both budgeted unit sales & dollar sales).

2.A schedule of expected cash collections from sales, by month and in total.

3.A merchandise purchases budget in units and in dollars. Show the budget by month and in total.

4.A schedule of expected cash disbursements for merchandise purchases, by month and in total.

5.Monthly selling and administrative expense budgets.

6.A cash budget.Show the budget by month and in total.

7.A budgeted income statement for the three-month period ending June 30^th.

8.A budgeted balance sheet as of June 30^th.

If you are not familiar with Excel or you need a refresher, go to https://support.office.com/en-ca/article/Excel-2013-training-courses-videos-and-tutorials-aaae974d-3f47-41d9-895e-97a71c2e8a4a for a tutorial.

You must use cell references wherever possible when you are building your spreadsheets.This includes using them in your formulas as well.Do not type computational results in the cells.

Submit one Excel worksheet using the tabs at the bottom left for each budget.Be sure to name the tabs appropriately (see below).

Isle Corporation 2014 - Microsoft Excel Home Insert Page Layout Formulas Vier H N P M A RL W Conditional Formatting . Insert . Calibri 11 -AA General Format as Table - O Paste O - A Call Styles . Format . Sort & Find & " Filter. Select Share Webbx This File Clipboard Font Alignment Number Styles Cells Waiting WebLx A1 A C E F G H J K L M N P 17 18 19 20 1 4 . H Sales Budgets /Purchases Budgets Selling Exp Budgets /2] Ready 100% +\fVariable: Sales Commissions $1 per tie Fixed: Wages & Salaries 22,000 Utilities 14,000 Insurance 1,200 Depreciation 1,500 Miscellaneous 3,000Assets Cash 14,000 Accounts Receivable ($48,000 February Sales; $168,000 March Sales) 216,000 Inventory (31,500 units) 157,500 Prepaid Insurance 14,400 Fixed Assets, Net of Depreciation 172,700 Total Assets 574,600 Liabilities & Stockholders' Equity Accounts Payable $ 85,750 Dividends Payable 12,000 Capital Stock 300,000 Retained Earnings 176,850 Total Liabilities & Stockholders' Equity $ 574,600