1. Here are some important figures from the budget on Portant figures from the budget of Cornell, Inc., for the second quarter of 2017 April $601,900 232,850 May $627,300 277,900 June $693,790 317,380 1 Credit sales Credit purchases Cash disbursements Wages, taxes, and expenses Interest Equipment purchases 62,964 18,058 131,400 76,364 18,058 144,200 79,670 18,058 0 The company predicts that 5 percent of its credit sales will never be collected, 35 percent of its sales will be collected in the month of the sale, and the remaining 60 percent will be collected in the following month. Credit purchases will be paid in the month following the purchase. In March 2017, credit sales were $332,640, and credit purchases were $247,100. Using this information, complete the following cash budget: April $443,500 Beginning cash balance Cash receipts Cash collections from credit sales Total cash available Cash disbursements Credit purchases Wages, taxes, and expenses Interest Equipment purchases Total cash disbursements Ending cash balance 2. Assume $1 = C$1.1098 and $1 = .6018. Also assume you can buy t What is the implied /C$ rate? How much profit can you earn using trang you start out with $100? 8. Also assume you can buy 55 for C$100. profit can you earn using triangle arbitrage if