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It is August $1,{2019}_{{?}_{?}}$ and work on Project ABC is beginning to ramp up$.$ The site is currently operating as a parking lot while the project managers are working on the design of the project, which is zoned as a $12-$floor tower consisting of rental

units.

The parking lot is averaging $$36,000/$month in net revenues. Although the lot will be closed in October for repaving, management expects revenues to remain consistent for the rest of $2019,$ including when the lot reopens in November for

the annual Christmas market. Repaving the lot is expected to cost around $$17,000$ and cannot be avoided as one section of the lot is starting to have large potholes. New lights for the lot will also be installed at the end of October for $$10,000,$

to increase visibility for the customers. All other expenses for the lot have been consistent on a month to month basis.

The executives have been quite content with the management company that has been operating the parking lot, although they charge fees for operating the parking machines at $$3,000$ month, in addition to their management fee of $10\%$ of net

revenues. With the current contract set to expire in September, the$|$executives are about to approve the proposed contract extension even though the management fee will increase by an additional $2\%$ per month, starting October $1,$

Pre$-$development costs for design work on the project for the remainder of the year are expected to average $$19,000/$month for August to October, $$46,000$ for November, and only $$5,000$ for December due to the holidays.

Financial results for the year up to July $31,{2019}_{{?}_{?}}$ are as follows:

Project ABC

For the seven months ending July $31,2019$

The Controller has asked you to prepare a summary for the executives, who have asked if any additional cash is required to be injected into the project and when it will be required. All cash for operating revenues and expenses are collected$/$paid in the subsequent month. All other capital and pre$-$development costs are paid in the month that they are incurred. Cash contributions occur on the $5^{th}$ of every month and the executives prefer to inject as little cash as possible

into the project.

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