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The Four-Sight Lens Company presented the following balance sheet at March 31, 2015, the beginning of the budget period:

Assets:

Cash $9500

Accounts Receivable 33,300

Merchandise Inventory 66,600

Total Current Assets $109,400

Plant and Equipment $45,000

Less Accumulated Depreciation 18,000

Net plant and equipment 27,000

Total Assets $ 136,400

Liabilities and Owners Equity

Current Liabilities:

Accounts Payable $27,700

Accrued Taxes Payable 4,200

Total Current Liabilities 31,900

Owners Equity $104,500

Total Liabilities and Owners Equity $136,400

The company's budgeted operations for the month of April 2015 are shown as follows:

Cash Receipts:

From Cash Sales $14,800

From Collections of Accounts Receivable 20,100

Total $34,900

Cash Disbursements:

For Operating Expenses $14,500

For payment on accounts payable 17,000

Total $31,500

Other transactions and information:

Sales of merchandise on account $25,000

Purchases of merchandise (all on account) $18,500

Depreciation of plant and equipment 300

Additional Accrued taxes 1,200

Cost of goods sold 22,300

Minimum ending cash balance 9,000

Interest rate on borrowed funds 12%

Using the information above, prepare the following:

1. The detailed budget schedules for sales, cash balance, accounts receivable, merchandise inventory, accumulated depreciation, accounts payable, accrues taxes payable, and owners equity, all at April 30 2015.

2. The budgeted income statement for April 2015

3. Budgeted statement of cash receipts and disbursements for April 2015

4. The budgeted balance sheet at April 30, 2015

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