I need help with filling out the three sheets listed below.

Cash Budget Information

The company plans to pay cash for selling and administrative equipment totaling $3,000,000 and production equipment totaling $15,000,000 (management plans to fully automate production with new machinery). Both will be purchased at the end of the fourth quarter and will not affect depreciation expense for the budgeted year.

The cash balance at the beginning of this coming year is expected to be $13,000,000. The company desires a minimum ending Cash Balance of $12,500,000 each quarter.

The company has an open line of credit at an interest rate of 10% annually. Borrowing is always at the beginning of the quarter and repayments are made at the end of a quarter. Repayments are not made until there is sufficient cash to make the repayment and not go below the minimum desired cash balance for the quarter. Interest is not paid until the payment is made.

Budgeted Balance Sheet Information

Expected account balances at the end of the fourth quarter of this year you are budgeting are:

Property, plant, and equipment (net)	$25,000,000
Common stock	$12,500,000

Actual retained earnings at the end of last year totaled $23,132,870, and a cash dividend of $10,000,000 is expected to be paid in the 3^rd quarter.

Required:

Complete the following budgets and schedules included in your Master Budget package:

Sales Budget

Schedule of Expected Cash Receipts

Production Budget

Direct Materials Budget

Schedule of Expected Cash Disbursements for purchase of materials

Direct Labor Budget

Manufacturing Overhead Budget

Selling and Administration Budget

Cash Budget

Budgeted Income Statement

Budgeted Balance Sheet (as of December 31st)