This was all the info I was provided with, question 13 on my questions is the first part.

13 Required information Part 1 of 2 The following information applies to the questions displayed below.) Benson Company is a retail company that specializes in selling outdoor camping equipment The company is considering opening a new store on October 1, 2019. The company president formed a planning committee to prepare a master budget for the first three months of operation. As budget coordinator, you have been assigned the following tasks: Required a. October sales are estimated to be $140,000, of which 35 percent will be cash and 65 percent will be credit. The company expects sales to increase at the rate of 20 percent per month. Prepare a sales budget. Prepare a schedule of cash receipts. the next month's cost of goods sold. However, ending inventory of December is expected to be $12,200. Assume that all purchases b. The company expects to collect 100 percent of the accounts receivable generated by credit sales in the month following the sale. c. The cost of goods sold is 60 percent of sales. The company desires to maintain a minimum ending inventory equal to 10 percent of are made on account. Prepare an inventory purchases budget. d. The company pays 60 percent of accounts payable in the month of purchase and the remaining 40 percent in the following month Prepare a cash payments budget for inventory purchases. e. Budgeted selling and administrative expenses per month follow: Salary expense (fixed Sales conmissions Supplies expense Utilities (fixed) Depreciation on store fixtures (ixed 4,200 Rent (fixed) Miscellaneous (fixed) $18,200 5 of Sales 2 of Sales $1,600 $ 5,000 $ 1,400 have a $22,000 salvage value and a three-year (36-month) useful life f. Utilities and sales commissions are paid the month after they are incurred; all other expenses are paid in the month in which they g. Benson borrows funds, in increments of $1,000, and repays them on the last day of the month. Repayments may be made in any The capital expenditures budget indicates that Benson will spend $173,200 on October 1 for store fixtures, which are expected to Use this information to prepare a selling and administrative expenses budget are incurred. Prepare a cash payments budget for selling and administrative expenses. amount available. The company also pays its vendors on the last day of the month. It pays interest of 1 percent per month in cash on the last day of the month. To be prudent, the company desires to maintain a $14,000 cash cushion. Prepare a cash budget 14 Required information [The following information applies to the questions displayed below. Part 2 of 2 Benson Company is a retail company that specializes in selling outdoor camping equipment. The company is considering opening a new store on October 1, 2019. The company president formed a planning committee to prepare a master budget for the first three months of operation. As budget coordinator, you have been assigned the following tasks: h. Prepare a pro forma income statement for the quarter. i. Prepare a pro forma balance sheet at the end of the quarter. j. Prepare a pro forma statement of cash flows for the quarter. Complete this question by entering your answers in the tabs below Required H RequiredI Required Prepare a pro forma income statement for the quarter BENSON COMPANY Pro Forma Income Statement For the Quarter Ended December 31, 2019 Required H Required I> Complete this question by entering your answers in the tabs belovw. Required HRequired IRequired 1 Prepare a pro forma balance sheet at the end of the quarter. (Amounts to be deducted should be indicated by a minus sign.) BENSON COMPANY Pro Forma Balance Sheet December 31, 2019 Assets Total assets Liabilities Equity Total liabilites and equity Complete this question by entering your answers in the tabs below Required H Required I Required Prepare a pro forma statement of cash flows for the quarter. (Amounts to be deducted should be indicated by a minus sign.) BENSON COMPANY Pro Forma Statement of Cash Flows For the Quarter Ended December 31, 2019 Cash flows from operating activities Net cash flows from operating activities Cash flows from investing activities Cash flow from financing activities Required I Required J