The instructions

Plus an Excel file (you do need to match all the information from other worksheets to come up with the project Income Statement and Balance Sheet.

Sales and cash collection sheet

Purchases sheet

Purchase Disbursements sheet

Selling and Admin sheet

Cash Budget sheet

Please answer those Two Questions by showing how you got all the conclusions (Brief explanation please for thumbs-up)

1. Using the Excel template provided, prepare an absorption costing income statement the quarter ended June 30 . You can provide a single/collapsed cost of goods sold number or an expanded cost of goods sold section. Include a column in the Excel Income Statement to explain or reference where your numbers come from or how they are generated if extra clarity is required. 2. Using the information, create a good form Balance sheet. Please classify your balance sheet by separating out current assets from your non-current assets.

You need to show me in your answer two Excel sheets the Income Statement and a Balance Sheet

Below is the 2022 second quarter cash budget for Omni company, a wholesale distributor of consumer goods. ( Additional information: a) The sales budget was as follows: b) Cash collections were as follows: Schedule of expected cash collections: credit sales are collected in the month following sale 140% of the preceding month's sales. * Given. c) Merchandise purchases budget: d) Schedule of expected cash disbursements-merchandise purchases. One-half of a month's inventory purchases is paid for in the month of purchase; the other onehalf is paid for in the following month. *given Page 3 of 3 e) Opening capital was $120,000 plus the $1500 acquired this quarter f) Depreciation is $900 per month and includes depreciation on new assets g) Quarter end Accounts Receivable are based on 40% of June's sales. h) Quarter end Accounts Payable are based only on Purchase disbursements due from June. i) Common stock is $150,000 j) Retained earnings at the beginning of the quarter are $12,250