1. The financial staff at Lehman Inc., a wholesale distributor has estimated the following sales figures for the first half of 2020: Month Sales January $100,000 February $120,000 March $150,000 April $180,000 May $150,000 June $120.000 July $150,000 August $180.000 Actual November and December 2019 sales were $200,000 and $90,000, respectively. Cash sales are 45% of the total and the rest are on credit. About 70% of credit sales are typically collected one month after the sale and 30% the second month. Monthly inventory purchases represent 50% of the following month's sales. The firm pays 40% of its inventory purchases in cash and the remainder in the following month. Wages are expected to be 25% of the month's sales, plus commissions to sales associates estimated to be 10% of collectable sales. A major capital expenditure of $22,000 is expected in April and a quarterly dividend of $10,000 will be paid to shareholders in March and June. Monthly rent is $2,500 and other maintenance expenses are estimated at 15% of sales. The firm has an ending cash balance of $50,000 for December 2019 Required: a) Help the financial staff of Lehman Inc. to prepare a cash budget for January thru June 2020 based on the information above. (25 pts) Remember to complete all work in Excel. Set up the template based on the information above and link as much of you information as possible