Must use cell references on the BudgetSolution worksheet, referencing this worksheet containing the data.

Prepare the following second-quarter budgets and answer the questions listed on the template provided on the BudgetSolution Worksheet. I have adapted the budget model to meet the needs of this company.

If there's a bolded line item, that is a header and does not need computation on that row.

Please note the quarter column is for the quarter so not all lines should be added across in the quarter column. When you have beginning and ending inventory or cash balances this is for the quarter and should be brought over to the quarter column.

1. Prepare Sales Budget in dollars by month and quarter.
2. Prepare a merchandise purchase budget by month and quarter in dollars.
3. Prepare a Selling Expense Budget, by month and quarter.
4. Prepare a General and Administrative budget, by month and quarter.
5. Prepare a cash budget showing the months and quarter.
6. Prepare a budgeted income statement for the quarter ending June 30, 20XX.

Data Scenario: You have just been hired into a management position which requires the application of your budgeting skils. You find out that budgeting has not been a priority of the company and that they have been experiencing cash shortages. You have contacted various areas on the organization and have accumulated the information below to assiat you in preparing a comprehensive budget. The folowing is actual information that relates to the operations of a merchandiser named Sled Company, a wholesaler of sleds Cash Accounts recelvable Inventory Accounts Payable \begin{tabular}{|r|r|} \hline$600 \\ 24,000 \\ 5,184 \\ \hline & $15,785 \\ \hline \end{tabular} The accounts payable at March 31 is a result of March purchases of inventory. I have set up the calculation in the row ab At the end of each month, inventory is to be on hand(ending inventory) equal to 32% of following month's sales needs, stated at cost. Monthly general and administrathe expenses are as folows and are paid in the month incumed if it is a cash expense. \begin{tabular}{|l|r|r|} \hline Rent & $3.000 permonth \\ \hline Depreciation & $400 for month \\ \hline \end{tabular}