I need help completing the following problem:

Complete the following budget using the attached schedules.

Data for Budget:

Budget Sales

December (Actual) - $75,000

January - $55,000

February - $80,000

March - $35,000

April - $60,000

Budgeted Expenses

Wages and Salaries - $5,000

Freight-out - 5%

Advertising - $3,500

Depreciation - $2,000

Other Expenses - 1.50%

Other Data

Minimum Inventory % of Next Month's COGS - 40%

Ending Inventory for Dec. Sales Mix - $20,000

Cash - 10%

Credit - 90%

Note: Credit sales collected in the following month COGS Inventory Paid: 60%

Current Month - 50%

Month After Purchase - 50%

Dec. Accounts Payable - $3,000

Dec. Cash Balance - $11,500

Minimum Cash Balance - $10,000

Schedule A:

Sales Budget

January | February | March

Credit Sales:

Cash Sales:

Total Sales:

Schedule B:

Cash Collections

January | February | March

Cash Sales:

Prior Collections:

Total Collections:

Schedule C:

Purchases Budget

January | February | March

Desired Ending Inventory:

Costs of Goods Sold:

Total Needed:

Beginning Inventory:

Total Purchases:

Schedule D:

Cash Disbursements for Purchases

January | February | March

For December:

For January:

For February:

For March:

Total Disbursements:

Schedule E and F:

Operating Expenses and Cash Disbursements

January | February | March

Cash Expenses

Salaries and Wages:

Freight-Out:

Advertising:

Other Expenses:

Total Disbursements:

Noncash Expenses

Depreciation:

Total Expenses:

Cash Budget:

January | February | March

Beginning Cash Balance:

Minimum Cash Balance:

Available Cash Balance:

Cash Receipts & Disbursements-

Collections from Customers:

Inventory Purchases:

Operating Purchases:

Net Cash:

Excess or (Deficiency):

Financing -

Borrowing:

Repayment:

Ending Cash Balance: