1) Onyx Corp. decides to prepare a short term financial plan which will show the cash position of that firm in the next two months of June and July. The short term plan is prepared by the end of May. The sales of Onyx Corp. were 1800000 in April and 2000000 in May. The firm estimates that the June sales will be 2500000 and July sales will be 2 800000 . Onyx Corp. receives 50% of sales revenue as cash in the month of sale. Since firm extends trade credit to customers; 25% of sales revenue is received as cash in the next month and 25% is received as cash after two months (e.g. 50% of June sales are received in June, 25% in July and 25% in August). The cost of raw materials used by Onyx Corp. is 80% of sales revenue. The firm pays 70% of the cost of materials in the month of sale and 30% in the next month (e.g. 70% of the cost of raw materials in June are paid in June and 30% of the cost of raw materials used in June are paid in July). Firm also estimates the following payments in the next two months Given this data; prepare the short term plan of Onyx Corp. for June and July showing total estimated cash inflow, total estimated cash outflow and net cash position of the firm