Please read the attached material carefully! Answer the following questions according to the material:
1. An estimated income statement showing the effects of the expected transactions for the second quarter and third quarter.
2. Forecasts of collections from accounts receivable by months and of disbursements by months.
3. A summary cash statement, showing the amount of bank loans and the repayment of them; this statement should also show the expected cash balance at September 30.
4. An estimated balance sheet showing the expected financial position of the llinois Novelty Company at September 30.
5. Upon completion, you will have three income statements and two balance sheets. Make a complete comparative financial analysis involving these four statements.
Notes: 1. This is a case study of finance. The problems are mainly in the form of financial statements and comparative analysis based on the statements. So you probably don’t need any references.
2. You should provide the necessary calculations after each step to ensure that the calculations are correct. In addition, contrastive analysis needs to be logical, complete and informative!