20) The following information pertains to Maxi Corporation: Month Sales July $40,000 August 30,000 September 20,000 October November December 50,000 60,000 70,000 Cash is collected from customers in the following manner: Month of sale 20% Month following the sale 50% Purchases $20,000 15,000 10,000 25,000 30,000 35,000 Two months following sale 28% Amount uncollectible 2% Thirty percent of purchases are paid for in cash in the month of purchase, and the balance is paid the following month. A 2% discount is allowed on purchases paid for in the month of purchase. Labor costs equal 20% of sales; other operating costs of $5,000 per month (including $2,000) of depreciation. Both are paid in the month incurred. The cash balance on October 1 is $4,300. A minimum cash balance of $4,000 is required at the end of the month. Money is borrowed in multiples of $1,000. . The company will issue $6,000 of common stock and pay $10,000 in dividends in October. . There is no debt outstanding at October 1. Required: Prepare a projected cash flow statement in good form for the month ended October 31.