3) (5 points) in preparation for the quarterly cash budget, the following revenue and cost information have been compiled. Prepare and evaluate a cash budget for the month of October based on the information shown below. Month August (actual) September (actual) October (forecast) Sales $3,000,000 $4,500,000 $1,000,000 Purchases $3,500,000 $2,000,000 $ 500,000 The firm collects 60 percent of sales for cash and 40 percent of its sales one month later. The firm pays cash for 40 percent of its purchases. The firm pays for 60 percent of its purchases the following month. Salaries and wages amount to 15 percent of the preceding month's sales. Lease payments of $100,000 must be made each month. Depreciation expense cach month of $45,000. The firm has a beginning cash balance in October of $100,000 and maintains a minimum cash balance of $200.000