12,000 15,100 Given the following information for Jawa Corp. prepare a full cas full cash budget for the months of April, May, and June Feb Mar Apr May lune July Sales in Units 10,000 16,250 16,675 16,000 with a per unit cost All units are sold at a price of $24.75, with a per unit cost of $13.50. Salesa 5.50 sales are collected as follows: 60% month of sale, 30% month after sale and remainder 2nd month after sale. Pure Purchases of materials, which account for 50% of the product cost (remainder of the product cost is Facto for 75% month of purchase and 25% month after purchase. Materials are purchase advance In addition, the following are paid monthly: Building Lease $21,750, Office salaries $10.50 Management Salaries $20,000, Trash removal $1,500, Utilities based on a rate of 20 cen h removal $1,500, Utilities based on a rate of 20 cents per Payroll taxes at the rate of 7.65% (paid on all wages), Equipment maintenance based on a rate of as cents per unit. The company will also be making the following payments: May Insurance payment for the months May-July $15,000, in April Income tax deposit of $30,000, the company will declare a quarterly dividend in May to be paid June 15 of $25,000, Employee first aid training at a cost of $2,500 is planned for July Depreciation is $21,265 per month based on straight line and income taxes are based on an average effective tax rate of 11.50%. At the start of April, the company had a cash balance of $35,450. Requirement #2 Based on the previous information prepare a traditional income statement (in proper format) for the month of June. Requirement #3 The company likes to maintain a cash balance of $30,000 at all times. They are considering purchasing new machinery at the beginning of July at a cost of $175,000. Do they have a sufficient amount of cash on hand to make this purchase or would they need to make arrangements for any financing? Requirement #4 Given that the company has the following dividend policy Dividends are paid quarterly based on the annual rate of $2.00 per share. How many shares of stock are currently outstanding