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Note Printing Supply of Baltimore has applied for a loan. Its bank has requested a budgeted Note Printing Supply of Baltimore has applied for a loan. Its bank has requested a budgeted

income statement for April $2024$ and budgeted balance sheet at April $30,2024.$ The March $31,$

$2024,$ balance sheet follows:

$($Click the icon to view the balance sheet.$)$

As Note Printing Supply's controller, you have assembled the following

additional information:

$(($Click the icon to view the information.$)$

Read the renu irsments

Requirement

For the

Total budgete

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a$.$ April dividends of $$8,000$ were declared and paid.

b$.$ April capital expenditures of $$16,900$ budgeted for cash purchase of equipment.

c$.$ April depreciation expense, $$600.$

d$.$ Cost of goods sold, $45\%$ of sales.

e$.$ Desired ending inventory for April is $$28,300.$

f$.$ April selling and administrative expenses include salaries of $$32,000,40\%$ of which will be

paid in cash and the remainder paid next month.

g$.$ Additional April selling and administrative expenses also include miscellaneous expenses of

$5\%$ of sales, all paid in April.

h$.$ April budgeted sales, $$90,000,55\%$ collected in April and $45\%$ in May.

i$.$ April cash payments of March $31$ liabilities incurred for March purchases of inventory, $$7,800.$

j$.$ April purchases of inventory, $$18,600$ for cash and $$37,800$ on account. Half the credit

purchases will be paid in April and half in May.

income statement for April $2024$ and budgeted balance sheet at April $30,2024.$ The March $31,$

$2024,$ balance sheet follows:

$($Click the icon to view the balance sheet.$)$

Requirement $1.$ Prepare the sales budget for April.

As Note Printing Supply's controller, you have assembled the following

additional information:

Data table

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