2. Precise Speed Inc., a laser printer manufacturer, has the following forecasted sales for 2018: January February March April MayJune July $200,000 $350,000 S450,000 $350,000 $250,000 $200,000 $300,000 Actual sales in November and December 2017 were $375,000 and 266,667, respectively. Sixty percent of sales are on credit. The firm collects 60% of these credit sales during the first after the sale and the remainder during the following second month. Purchases constitute 60% of the next month's sales. The company pays 50% during the first month after the purchase was made and the remainder in the next month. wages, taxes and other expenses are expected to be 30% of forecasted sales. A major capital expenditure of $70,000 is expected in March. Interest payments are expected to be $30,000 every month and the company needs a minimum cash balance of S25,000. The beginning cash balance is $30,000. a) Using the Bithlo Barbecues simple cash budget example from Chapter 4, help the financial staff of Precise Speed Inc., to prepare their cash budget for January to June 2018 b) Assume that Precise Speed Inc. has some flexibility in scheduling the major capital expenditure Use the Scenario Manager to see in what month Precise Speed should make this minimize the maximum borrowing. Create a scenario summary to show the expected in March. expenditure in order to result If the firm will invest any cash in excess of $40,000 at a rate of 3% and will pay interest on its short term borrowings of 7%, help the financial staff at Precise Speed Inc., prepare a cash budget using the Bithlo Barbecues complex cash budget example from Chapter 4. The cash budget should include interest payments on borrowed funds and the investment of excess cash c)