Part 2 Computer Accessories assembles a computer networking device from kits of imported components You have been asked to develop a quarterly and annual operating budget and a pro-forma income statements for the year ending December 31, 2017 You have obtained the following information: I have a template set up on the Part2BudgetSolution worksheet that you should use to complete the required budgets You need to use cell references in the development of your budgets You must use this worksheet to reference the data that is being inputted onto the budgets on the budget worksheet. If you type in any numbers in the solution, I will take off 10 pts., since we use Excel so that we can update budgets or do what if analysis without retyping numbers. You should use this worksheet as your data field and only use cell references and formulas in your budgets Your grade will be based on accuracy of your solution and correct usage of excel. The budget worksheet has formatted budgets for you to complete The beauty behind excel is that managers can perform what-if analysis just by changing the data, so you do not need to retype the budgets if you have used cell references and formulas throughout. Beginning-of-year balances $50,000 $61,200 Cash Accounts receivables (previous quarter's sales) Raw materials Finished Goods Accounts payable 653 Kits 510 Units $33,255 Desired end-of-year inventory balances Raw materials Finished goods 500 kits 270 units Desired end-of-quarter balances Raw materials as a portions of the following quarter's production Finished goods as a portion of the following quarter's sales 20% 15%