20%

of all sales in a month are paid in the same month,

60%

are paid in the next month, and

20%

are paid in the second month after. All expenses in a month are paid in the same month. There is a

$20,000,000

minimum required cash balance at the end of each month, and any shortage from this minimum requirement will be covered by obtaining a loan.\ Any excess over

$20,000,000

will be used to reduce or pay off cumulative loans. Initial cash balance in June is

$6,000,000

and there is no cumulative loan at this time. Monthly prorated tax rate is

2%

, and monthly interest rate on cumulative loans is

1%

.

20% of all sales in a month are paid in the same month, 60% are paid in the next month, and 20% are paid in the second month after. All expenses in a month are paid in the same month. There is a $20,000,000 minimum required cash balance at the end of each month, and any shortage from this minimum requirement will be covered by obtaining a loan. Any excess over $20,000,000 will be used to reduce or pay off cumulative loans. Initial cash balance in June is $6,000,000 and there is no cumulative loan at this time. Monthly prorated tax rate is 2%, and monthly interest rate on cumulative loans is 1%