can you make me a cash budget for april, may june, and total on excel and show all your work and formulas. You have just been hired as a management trainee by Cravat Sales Company, a nationwide

distributor of a designer's silk ties. The company has an exclusive franchise on the distribution of the

ties, and sales have grown so rapidly over the last few years that it has become necessary to add

new members to the management team. You have been given responsibility for all planning and

budgeting. Your first assignment is to prepare a master budget for the next three months, starting

April $1.$ You are anxious to make a favawableimpression on the president and have assembled the

information below.

The company desires a minimum ending cash balance each month of $$10,000.$ The ties are sold to

retailers for $$8$ each. Recent and forecasted sales in units are as follows:

The large buildup in sales before and during June is due to Father's Day. Ending inventories are

supposed to equal $90\%$ of the next month's sales in units. The ties cost the company $$5$ each.

Purchases are paid for as follows: $50\%$ in the month of purchase and the remaining $50\%$ in the

following month. All sales are on credit, with no discount, and payable within $15$ days. The company

has found, however, that only $25\%$ of a month's sales is collected by month$-$end. An additional $50\%$ is

collected in the following month, and the remaining $25\%$ is collected in the second month following

sale. Bad debts have been negligible.

The company's monthly selling and administrative expenses are given below:

Variable:

Sales commissions

Fixed:

Wages and salaries.

Utilities

Insurance $.$

Depreciation.

Miscellaneous.

$$1$ per tie

All selling and administrative expenses are paid during the month, in cash, with the excention of

depreciation and insurance expired. Land will be purchased during May for $$25,000$cash. The

company declares dividends of $$12,000$ each quarter, payable in the first month of the following

quarter. The company's balance sheet a March $31$ is given below:

The company has an agreement with a bank that allows it to borrow at the beginning of each month,

up to a total loan balance of $$140,000.$ The interest rate on these loans is $1\%$ per month, and for

simplicity, we will assume that interest is not compounded. At the end of the quarter, the

company would pay the bank allof the accumulated interest on the loan and as much of the

loan as possible, while still retaining at least $$10,000$ in cash