Amelia wants to use a formula in Excel to estimate her utilities expense for each month. She normally pays her utilities within 30 days. What formula or link might she use in Excel to estimate her cash outflow for utilities?

a. Sum the past three months’ cost of goods sold from the forecasted income statement

b. Link to the prior month’s accounts payable from the forecasted balance sheet

c. Link to the prior month’s utilities expense from the forecasted balance sheet

d. Link to the prior month’s ending cash balance from the cash flow forecast