Maris Bothers, Inc., needs a cash disbursement schedule for the months of April, May, and June. Use the format given below, and the following information in its preparation.Sales: February $501,000, March $517,000, April $572,000, May $634,000, June $648,000, July $635,000Purchases: Purchases are calculated as 63% of the next month's sales. 10% of purchases are made in cash, 47% of purchases are paid for 1 month after the purchase, and the remaining 43% of purchases are paid for 2 months after the purchase.Rent: The firm pays rent of $8,050 per month.Wages and salaries: Base wage and salary costs are fixed at $6,300 per month plus a variable cost of 6.9% of the current month's sales.Taxes: A tax payment of $54,600 is due in June.Fixed asset outlays: New equipment cost $75,300 will be bought and paid for in April.Interest payment: An interest payment of $29,600 is due in June.Cash dividends: Dividends of $12,100 will be paid in April.Principal repayments and retirements: No principal repayments or retirements are due during these months.Prepare the cash disbursements schedule for Maris Brothers, Inc.
