please just check my work and help/explain in Preparing the Budgeted Income Statement based on the information given.

1. The selling price per unit is $50.00.

	December	January	February	March	Total
Budgeted unit Sales	50,000	70,000	100,000	60,000	230,000
Add desired ending merchandise inventory	31,500	45,000	27,000	45,000	117,000
Total needs	81,500	115,000	127,000	105,000	347,000
Less beginning merchandise inventory	22,500	31,500	45,000	27,000	103,500
Required purchases	59,000	83,500	82,000	78,000	243,500
Unit product cost	$ 35.00	$ 35.00	$ 35.00	$ 35.00	$ 35.00
Cost of inventory purchases	$ 2,065,000	$ 2,922,500	$ 2,870,000	$ 2,730,000	$ 8,522,500

	January	February	March	Total
Budgeted units sales	70,000	100,000	60,000	230,000
Variable selling and administrative expense per unit	$ 12.00	$ 12.00	$ 12.00	$ 12.00
Total variable selling and administrative expense	$ 840,000	$ 1,200,000	$ 720,000	$ 2,760,000
Fixed selling and administrative expenses
Advertising	$ 24,000	$ 24,000	$ 24,000	$ 72,000
Rent	$ 35,000	$ 35,000	$ 35,000	$ 105,000
Depreciation	$ 66,000	$ 66,000	$ 66,000	$ 198,000
Total fixed selling and administrative expenses	$ 125,000	$ 125,000	$ 125,000	$ 375,000
Total selling and administrative expenses	$ 965,000	$ 1,325,000	$ 845,000	$ 3,135,000
Less depreciation	$ 66,000	$ 66,000	$ 66,000	$ 198,000
Cash disbursements for selling and administrative expenses	$ 899,000	$ 1,259,000	$ 779,000	$ 2,937,000

	January	February	March	Total
Beginning cash balance	$ 70,000	$ 70,000	$ 70,000	$ 210,000
add cash receipts
Cash collections from customers	$ 2,950,000	$ 4,175,000	$ 4,100,000	$ 11,225,000
Total cash available	$ 3,020,000	$ 4,245,000	$ 4,170,000	$ 11,435,000
Less cash disbursements
Total cash disbursements for merchandise purchases	2,065,000.00	$ 2,922,500	$ 2,870,000	$ 7,857,500
Cash from Selling and administrative	$ 840,000	$ 1,200,000	$ 720,000	$ 2,760,000
Dividend		$ 20,000		$ 20,000.00
other expenses	$ 59,000.00	$ 59,000.00	$ 59,000.00	$ 177,000.00
Total cash disbursements	$ 2,964,000	$ 4,201,500	$ 3,649,000	$ 10,814,500
Excess (deficiency) of cash available over disbursements	$ 56,000	$ 43,500	$ 521,000	$ 620,500
Financing
Borrowing (at the beginnings of the month)	$ 14,000	$ 26,500		$ 40,500
Repayments (at end of the month)			$ (40,500)	$ (40,500)
Interest			$ (545)	$ (545)
Total financing	$ 14,000	$ 26,500	$ (41,045)	$ (545)
Ending cash balance	$ 70,000	$ 70,000	$ 479,955	$ 619,955

Sales
Cost of goods sold
Gross margin
Selling and administrative expenses
Net operating Income
Interest expense
Net Income