You are contemplating leaving your full-time employment and starting a consultancy business specialising in market research. You have looked into the possibility and discovered the following facts: (i) Your available capital is 15,000. This you would pay into your business bank account at the beginning of 200x. (ii) You estimate there are 200 working days in the year. In the first six months you anticipate charging clients for the following days: June 5 July 8 August 10 September 10 October 12 November 12 Your daily charge rate is 450. (iii) Your clients will take one months credit. (iv) Expenses, which will be recovered from clients with the fee charges, will amount to 15% of the fees charged. These costs will be paid by you in the month in which the consultancy is undertaken. (v) Office equipment will be purchased using loan finance. The equipment will have an estimated life of 5 years and will be purchased in June on the following terms: Total cost of asset: 16,500 Loan deposit: 1,500 12 monthly repayments will be payable on the loan from July of 1,500 each (including interest of 249 per instalment). (vi) Secretarial and administration costs are likely to be 900 per month. These will be paid monthly as incurred. (vii) Premises can be rented on the following terms: Premium for a five-year lease (treated as capital expenditure) 1,500 Annual rent payable in advance on 1 June 3,600 You are required to prepare: (a) A cash flow forecast for your consultancy for the six months to 30 November; (b) A profit forecast (Profit and Loss Account/ Income Statement) for the six months ending 30 November. (c) A Balance Sheet for 30 November 200x. Work to the nearest .