The Barker Corporation manufactures and distributes wooden baseball bats. The unit sales volume for the past two months and the estimate for the next four months is:

The bats are sold for \(\$ 3\) each. All sales are made on account. One-half of the accounts are collected in the month of the sale, \(40 \%\) are collected in the month following the sale, and the remaining \(10 \%\) in the second month following the sale. Customers who pay in the month of the sale receive a \(2 \%\) cash discount. The production schedule for the six-month period beginning with October is:

Since wooden blocks from which bats are made are purchased a year in advance in order to be aged, Barker pays \(\$ 60,000\) a month for raw materials. Workers can produce 7.5 bats per hour. Normal monthly output is 75,000 bats. Employees are paid \(\$ 4.00\) per hour for regular time and time and one-half for overtime. All hours over the normal monthly output of 75,000 bats are overtime hours.
Other manufacturing costs include variable overhead of \(\$ .30\) per unit and annual fixed overhead of \(\$ 280,000\). Depreciation charges totaling \(\$ 40,000\) are included among the fixed overhead. Selling expenses include variable costs of \(\$ .20\) per unit and annual fixed costs of \(\$ 60,000\). Fixed administrative costs are \(\$ 120,000\) annually. All fixed costs are incurred uniformly throughout the year.
The controller has accumulated the following additional information:

Interest to be received from the company's temporary investments is estimated at \(\$ 500\) for December.
Prepaid expenses of \(\$ 3,600\) will expire during December, and the balance of the prepaid account is estimated at \(\$ 4,200\) for the end of December.
Barker purchased new machinery in 20X6 as part of a plant modernization program. The machinery was financed by a 24 -month note of \(\$ 144,000\). The terms call for equal principal payments over the next 24 months with interest paid at the rate of one percent per month on the unpaid balance at the first of the month. The first payment was made May \(1,20 X 6\).
Old equipment, which has a book value of \(\$ 8,000\), is to be sold during December for \(\$ 7,500\).
Each month the company accrues \(\$ 1,700\) for vacation pay by charging vacation pay expense and crediting accrued vacation pay. The plant closes for two weeks in June when all plant employees take a vacation.
Quarterly dividends of \(\$ .20\) per share will be paid on December 15 to stockholders of record. Barker Corporation has authorized 10,000 shares. The company has issued 7,500 shares, and 500 of these are classified as treasury stock.
The quarterly income taxes payment of \(\$ 50,000\) is due on December \(15,20 X 6\).
{Required:}
Prepare a schedule which forecasts the cash position at December 31, 20X6.

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70,000 January (estimated). 90,000 50,000 February (estimated)............ 90,000 March (estimated).. 120,000 October (actual).... November (actual). December (estimated)...... 50,000