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Perez, Inc sells fireworks. The company's marketing director developed the following cost of goods sold budget for April, May, June, and July April May June July Budgeted cost of goods sold $72,080 $82,000 $92,00 $98,eee Perez had a beginning inventory balance of $3,700 on April 1 and a beginning balance in accounts payable of $14,800. The company desires to maintain an ending Inventory balance equal to 15 percent of the next period's cost of goods sold. Perez makes all purchases on account. The company pays 65 percent of accounts payable in the month of purchase and the remaining 35 percent in the month following purchase Required a. Prepare an inventory purchases budget for April, May, and June. b. Determine the amount of ending inventory Perez will report on the end-of-quarter pro forma balance sheet. c. Prepare a schedule of cash payments for inventory for April, May, and June d. Determine the balance in accounts payable Perez will repon on the end-of-quarter pro forma balance sheet. Required A Required B Required C Required D Prepare an inventory purchases budget for April, May, and June. Inventory Purchases Budget Budgeted cost of goods sold April May June $ 72,000 $82,000 $ 92,000 Inventory needed Required purchases (on account) Required A Required B Required Required D Determine the amount of ending inventory Perez will report on the end-of-quarter pro forma balance sheet. Ending inventory Required A Required B Required Required D June Prepare a schedule of cash payments for inventory for April, May, and June. (Round your final answers to the nearest whole dollar.) Schedule of Cash Payments April May Payment of current accounts payable Payment of previous accounts payable Total budgeted payments for inventory Required A Required B Required Required D Determine the balance in accounts payable Perez will report on the end-of-quarter pro forma balance sheet. Accounts payable