Required:

Using the data above, complete the following statements and schedules for the first quarter:

Schedule of expected cash collections:

$2-$a$.$ Merchandise purchases budget:

$2-$b$.$ Schedule of expected cash disbursements for merchandise purchases:

Cash budget:

Prepare an absorption costing income statement for the quarter ending March $31.$

Prepare a balance sheet as of March $31.$

Required $1$

Required $2A$

Required $2$B

Required $3$

Complete the schedule of expected cash disbursements for merchandise purchases. Complete the cash budget. $($Cash deficiency, repayments and interest should be indicated by a minus sign.$)$

$\backslash$table$[[$Rahahi Company$],[$Cash Budget$],[,$January,February,March,Quar$],[$Beginning cash balance,$$,60,000,],[$Add collections from customers,,$297,000,,,],[$Total cash available,,$357,000,0,0,],[$Less cash disbursements:$],[$Inventory purchases,,$227,400,,,],[$Selling and administrative expenses,,$128,400,,,],[$Equipment purchases$],[$Cash dividends,,$45,000,,,],[$Total cash disbursements,,$400,800,0,0,],[$Excess $($deficiency$)$ of cash,,$(43,800),0,0,],[$Financing:$],[$Borrowings$],[$Repayments$],[$Interest$],[$Total financing,,$0,,0,],[$Ending cash balance,$$,(43,800),$$$,$$$,$$$]]$ Prepare an absorption costing income statement for the quarter ending March $31.$ Prepare an absorption costing income statement for the quarter ending March $31.$