please show work! please answer 6-7 based on the given information. balance sheet is answers to #1. other table is answers to 2-5.

Name ACC 1820 Project 4 (Ch 7) Uise Question 11 from HW6 oD CONNECT to complete the project requirements items epresent check figures provided. 1) ?paints) Let's prepare a balance sheet for Garden Sales, he, at the BEGINNING of the quarter March 31-. The CONNECT problem provides beginning cash, Inventory and accounts payable balance as of March 31. To complete the balance sheet, we will have to calculate a few Look at the Schedale of Expected Cash Collections that you complcted on CONNECT. (CONNECT results) Remember the a) accounts receivable represents the sales that have already would the accounts receivable balance be been made but payment is expected in the future. What as of March 31? b) Complete the asset side of the balance sheet including total assets. 13363 c)Include the total asset" amount in the "total liability &SH Equity" box. Include the accounts payable amount from CONNECT and calculate the amount of retained carnings such that the balance shect will balance. Garden Sales, Inc Balance Sheet March 31 M |Accounts Payable M3Tto] Cash Accounts Receivable Inventory Common Stock Retained Earnings Total current assets Plant Assets, nct 350,000 Total SH Equity Total Assets Total liabilities&SH Equity The company's president is concemed about its ability to borrow money on its line of credit. The bank has indicated they will redace the total loan balance limit to $100,000. Because of this, the president wants to know how increased collection effiorts and reduced inventory levels will impact the cash budget The presidet s gests that sales continue to be 20% for cash and 80% on credi However, credit sales fx April, May, and June will be collected over a comonth period with 25% collected inthe month of Sale, 65% collected in the month following sale, and 10% in the second month following sale. This change in policy will not affect collection of sales from February and March. (Assume those are unchanged from your CONNECT problem.)