I just need help with clues #7 and #8. Thanks in advance :)

Nordic Company Balance Sheet March 31, 2020 Assets Cash Accounts Receivable Inventory Buildings & equipment (net) $15,750 $84,000 $22,050 $374,675 $496,475 Total Assets $32,025 Liabilities & Owners' Equity Liabilities Accounts Payable Owners' Equity Capital Stock Retained earnings $332,500 $131,950 Total liab. & Owners' equity $496,475 Sales Budget April May June Total Units 24500 29750 31500 85750 Unit selling price $5 $5 $5 $5 Sales $122,500 $148,750 $157,500 S428,750 April May June Schedule of expected cash collections Total Budgeted sales revenue $122,500 $148,750 $157,500 S428,750 $24,500 $29,750 $31,500 $85,750 Cash collection in the month of sale (20%) $84,000 $98,000 $119,000 $301,000 Cash collection in the next month (80%) $108,500 $127,750 $150,500 $386,750 Estimated cash collections during the month April May June Merchandise purchase Budget Total July March (Actual) Budgeted sales $105,000 $122,500 $148,750 $157,500 $428,750 $87,500 $63,000 $73,500 $89,250 $94,500 $257,250 $52,500 Cost of goods sold (60% of sales) $22,050 $26,775 Add: Desired ending inventory $28,350 $15,750 $70,875 Total needs $100,275 $117,600 $110,250 $328,125 Less: Beginning inventory $22,050 $26,775 $28,350 $1,725 $78,225 $90,825 $81,900 $20,785 Estimated purchases required April May June Total Schedule of expected cash disbursal for purchases $78,225.00 $90,825.00 $81,900.00 $250,950.00 Budgeted merchandise purchases $39,112.50 $45,412.50 $40,950.00 $125,475.00 Payment in the same month (50%) $32,025.00 $39,112.50 $45,412.50 $116,550.00 Payment in the following month (50%) $71,137.50 $84,525.00 $86,362.50 $242,025.00 Expected cash payments for merchandise purchases April May June Total Schedule of cash disbursements for selling and admin expenses Salaries and wages $13,125 $13,125 $13,125 $39,375 Shipping $7,350 $8,925 $9,450 $25,725 Advertising 10500 10500 10500 $31,500 Other expenses $4,900 $5,950 $6,300 $17,150 $35,875 $38,500 $39,375 $113,750 Estimated cash disbursements for selling and admin expenses Clue #7- Cash Budget Equipment purchases during the quarter will be: April $20,125 . May $5,250 Dividends of $6,125 will be paid in June. Management wants to maintain a minimum cash balance of $10,000. The company has an agreement with a local bank that allows the company to borrow in increments of $1,000 at the beginning of each month, up to a total loan balance of $30,000. . Interest is 1% per month Nordic can repay the loan at the end of the quarter if it is able to do so. The beginning cash balance has been given to you. What amount will Nordic Company plan to borrow (repay) during June? Note: Repayments must be listed in parenthesis. Clue #8- Balance Sheet You should have all the information in your various schedules. O How much are the current assets at June 30th? 163,975 View hint for Question 11 Next Page Page