Required: 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 5. Prepare a balance sheet as of March 31 Complete this question by entering your answers in the tabs below Required 1 Required 2A Required 28 Required 3 Required 4 Required 5 Complete the Schedule of expected cash collections Schedule of Expected Cash Collections January F $ 77,600 February March Quarter Cash sales Credit sales Total collections 202.400 S 280,000 Required 1 Required 2A> Hillyard Company Cash Budget February March January $43,000 Quarter Beginning cash balance Add cash collections Total cash available Less cash disbursements: 280,000 217,200 107,040 Inventory purchases Selling and administrative expenses Equipment purchases Cash dividends 45,000 369,240 Total cash disbursements Excess (deficiency) of cash Financing Borrowings Repayments Interest Total financing Ending cash balance