please help! is this Correct? the numbers in blue is what i fill in. I have a few more towards the bottom i need help with and math shown please!

C i cel formulas must be used. Please be sure to submit your file as an Excel file. Any submissions in 2 numbers format will receive a 0. 3 4 PER Student Name => 5 Section Number => 6 7 B D E 8 9 Data Section: 10 11 Actual and Budgeted Unit Sales: 12 April 1,500 13 May 1,000 14 June 1,600 15 July 1,400 16 August 1,500 17 September 1,200 18 19 Balance Sheet, May 31, 19X5 20 Cash $8,000 21 Accounts receivable 107,800 22 Merchandise inventory 52,800 23 Fixed assets (net) 130,000 24 25 Total assets $298,600 ======== 27 Accounts payable (merchandise) $74,800 28 Owner's equity 223,800 29 30 Total liabilities & equity $298,600 31 32 33 Average selling price $98 34 Average purchase cost per unit $55 35 Desired ending inventory 36 (% of next month's unit sales) 60% 37 Collections from customers: 38 Collected in month of sale 20% 39 Collected in month after sale 60% 40 Collected two months after sale 20% 41 Projected cash payments: 42 Variable expenses 30% of sales 43 Fixed expenses (per month) $10,000 44 Depreciation per month $1,000 45 46 47 Answer Section: 48 Sales Budget MASTER 26 NNM i AutoSave OFF 8 Data Formulas Review View Home Insert Page Layout Draw X Arial Rounded MT 10 ' BI UBA Paste Open recovered workbooks? Your recent changes were saved. Do you want to continue wor E53 fx =1F[(C53-0),0, (C16*(33)) 47 Answer Section Sales Budget June July August 49 50 51 53 53 54 55 56 Units Dollars 5,600 3156,800 1,400 137,200 1.500 147.000 Unit Purchased Budget June July August 840 1.600 900 1,400 720 1,500 2.440 Toco 2.300 840 2.220 900 11.480 1,460 1,320 381 400 $80,300 $72,600 30 55 Desired ending inventory Current month's unit sales 65 Total units needed 63 Beginning inventory 66 65 Purchases (units) 66 67 Purchases (dollars) 65 10 910 Cash Budget 71 23 33 14 Cash balance beginning 75 Cash receipts 76 Collections from customers 97 From April sales 70 From May sales 79 From June sales 30 From July sales 11 From August sales 2 Total cash avable Cashbursements Merchandise SE Vanable expenses Fixed * Interest paid June July August $8.000 $8.000 38.000 29 400 58.800 31 300 19.600 94.080 27.440 21,360 12.320 29.400 $1275605140,120 $151,080 $74.800 47040 10.000 $1,400 41.160 10,000 184 380 300 44100 10.000 50 To disbursements 3131340 $132.746 $134 459 - Cash balance before financing Los Desired ending lalance 154280116,376 8.000 8.000 $16.621 8.000 MASTER + Reso Open recovered workbooks? Your recent changes were saved. Do you want to continue working where you left off E53 fx =IF (C53-0),0, (C16*C33)) G B D $8,376 $8,621 ($12,280) $12,280 0 $0 (8,376) $0 (3,904) $12,280 ($8,376) ($3,904) $8,000 $8,000 $12,717 $441,000 247,500) $193,500 94 95 Excess (deficit) of cash over needs 96 97 Financing 98 Borrowing 99 Repayment 100 101 Total effects of financing 102 203 Cash balance, ending 104 105 106 Forecasted Income Statement 107 For Quarter Ended August 31, 1935 108 109 Sales 110 Cost of goods sold 111 112 Gross profit 113 114 Expenses 115 Variable expenses 116 Fixed expenses 117 Depreciation expense 118 Interest expense 119 120 Total expenses 121 222 Net income 123 124 125 Forecasted Balance Sheet 126 August 31, 1935 127 128 Assets 129 Cash 130 Accounts receivable 131 Merchandise inventory 1.32 Fixed assets (net) 133 134 Total assets 135 13 Llabilities & equity 107 Accounts payable 238 Loans payable 139 Owner's equity 140 141 Total liabilities & equity MASTER + Ready $132,300 30,000 3,000 165,300 $330,600 ($137,100) formula formula 39,600 127,000 $166,600 $72,600 252.000 223,800 $324,600 Open recovered workbooks? Your recent changes were saved. Do you want to continue work E53 Xfx =IF((C53=0),0, (C16*C33)) B C D E $132,300 30,000 3,000 165,300 $330,600 ($137,100) formula formula 39,600 127,000 114 Expenses: 115 Variable expenses 116 Fixed expenses 117 Depreciation expense 118 Interest expense 119 120 Total expenses 121 122 Net income 123 124 125 Forecasted Balance Sheet 126 August 31, 1935 127 128 Assets: 129 Cash 130 Accounts receivable 131 Merchandise inventory 132 Fixed assets (net) 133 134 Total assets 135 136 Liabilities & equity 137 Accounts payable 138 Loans payable 139 Owner's equity 140 141 Total liabilities & equity 142 143 144 145 146 147 148 149 150 151 152 153 154 155 154 157 15 $166,600 '$72,600 223,800 252,000 $324,600