Required $(1-5)$: please show work so i can understand. Using the data above, complete the following statements and schedules for the first quarter:$1.$ Schedule of expected cash collections:$2-$a$.$ Merchandise purchases budget:$2-$b$.$ Schedule of expected cash disbursements for merchandise purchases:$3.$ Cash budget:$4.$ Prepare an absorption costing income statement for the quarter ending March $31\mathrm{.}5.$ Prepare a balance sheet as of March $31.$Hillyard Company, an office supplies specialty store, gathered the following information to prepare its master budget for the first quarter of the year: