Hi, could you please help me out with this problem? And make sure to answer everything? That would be much appreciated. Thanks

rI uulclll J.u-' The results of operations for the Beca Bug Spray Manufacturing Company for the fourth quarter of 2017 were as follows (in thousands): Sales of bug spray $460,000 Less variable cost of goods sold 257,600 Contribution margin 202,400 Less fixed bug removal costs $64,400 Less xed selling and administrative expenses 27,600 92,000 Income before taxes 110,400 Less taxes on income 44,160 Net income $66,240 Note: Beca uses the variable costing method. Thus, only variable costs are included in the cost of goods sold. Fixed costs are charged to expense in the period incurred. The company's balance sheet as of the end of the fourth quarter of 2017 was as follows (in thousands): Asseus: Cash $ 26,400 Accounts receivable 230,000 Total current assets 256,400 Fixtures and equipment $130,000 Less accumulated depreciation 75,000 55,000 Total assets $311,400 Liabilities and owners' equity: Accounts payable $ 51,520 Retained earnings 152,580 Common stock 107,300 Total liabilities and owners' equity $311,400 Additional information: 1. Sales and variable costs of sales are expected to increase by 4 percent in the next quarter. 2. All sales are on credit with 50 percent collected in the quarter of sale and 50 percent collected in the following quarter. 3. Variable cost of sales consists of 40 percent materials, 38 percent direct labor, and 22 percent variable overhead. Materials are purchased on credit. 50 percent are paid for in the quarter of purchase, and the remaining amount is paid for in the quarter alter purchase. There is no inventory. Also, direct labor and variable overhead costs are paid in the quarter the expenses are incurred. 4. Fixed bug removal costs (other than $5,300 of depreciation expense) are expected to increase by 2.00 percent. Fixed bug removal costs requiring payment are paid in the quarter they are incurred. 5. Fixed selling and administrative costs (other than $3,040 of depreciation expense) are expected to increase by 2 percent. Fixed selling and administrative costs requiring payment are paid in the quarter they are incurred. 6. The tax rate is expected to be 40 percent. All taxes are paid in the quarter they are incurred. 7. No purchases of xtures or equipment are expected in the first quarter of 2018. Prepare a budgeted income statement for the first quarter of 2018. (Round fixed bug removal costs to 3 decimal places, e.g. 0.100 and final answers to 0 decimal places, e.g. 5,275.) Beca Bug Spray Manufacturing Company Budgeted Income Statement Prepare a budgeted statement of cash budget for the first quarter of 2018. Beca Bug Spray Manufacturing Company Cash Budget For the First Quarter, 2018 V V V V V\fPrepare a budgeted balance sheet as of the end of the first quarter of 2018. (List assets in order of liquidity. Round answers to 0 decimal places, e.g. 5,275.) Beca Bug Spray Manufacturing Company Budgeted Balance Sheet Assets $ V $\f