Total cash disbursement 129000 145000 121000 395000 4

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Total cash disbursement 129,000 145,000 121,000 395,000 4) January February March Quarter Cash balance, beginning 48,000 30,000 27,000 105,000 Add cash collections 304,000 440,000 70,000 814,000 Total cash available 352,000 470,000 97,000 919,000 Less cash disbursements Inventory 228,000 292,500 240,000 760,500 Selling and administrative Exp 129,000 145,000 121,000 395,000 Equipment purchases 0 1,700 84,500 86,200 Cash dividends 45,000 0 0 45,000 Total cash disbursements 402,000 439,200 445,500 1,286,70 0 Excess deficiency -50,000 30,800 125,300 45,300 Financing Borrowings 80,000 0 0 80,000 Repayments 0 0 -80,000 -80,000 Interest (80,000*.01*3) -2,400 -2,400 Total financing 80,000 0 -82,400 -2,400 Cash balance, ending 30,000 30,800 42,900 42,900 5) Hillyard Company Income Statement For the Quarter Ended March 31 Sales 1,300,00 0
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Cost of goods sold Beginning inventory 60,000 Add purchases 750,000 goods available for sales 810,000 Ending inventory 30,000 780,000 Gross Margin 520,000 Selling and administrative expenses Salaries and wages 81,000 Advertising 210,000 Shipping 65,000 Depreciatio n 42,000 Other expenses 39,000 437,000 Net operating income 83,000 Interest expenses 2,400 Net income 80,600 6) Hillyard Company Balance Sheet as of March 31 Assets Current assets Cash 42,900 Accounts Receivable 240,000 Inventory 30,000 Total current assets 312,900 Building and equipment 414,200 Total assets 727,100 Liabilities and Equity Current liabilities Accounts payable 82,500
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Stockholders equity Capital stock 500,000 Retained earnings 144,600 644,600 Total liabilities and equity 727,100
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