[35] QUESTION TWO The following information relates to LMN Traders for three months ended 31 May 2019. March R 360 000 April R May R 400 000 320 000 Sales (20% for cash, 80% on credit) Purchases (10% for cash, 90% on credit) Salaries and wages paid Cash expenses Depreciation 240 000 40 000 380 000 280 000 60 000 60 000 32 000 24 000 28 000 2 000 2 000 2 000 Additional Information: It is expected that debtors will settle their accounts as follows: 20% in the month of sale 70% in the month after the month of sale 5% in the second month after the month of sale The remaining 5% is usually written off as bad debts. Trade creditors are paid in the month after the purchase at a discount of 5%. 50% of the salaries and wages are weekly wages. Because wages are paid weekly, usually 10% of the wages are paid in the month following the month in which they were incurred. Expenses are paid as they arise. The favorable bank balance on 1 April 2019 was R21 000. . Required: 2.1 Prepare the Cash Budget of LMN Traders for April and May 2019. 2.2 Outline the objectives of Business Financial Planning. 2.3 Elaborate on the goals of Financial Management in the pursuit of maximizing wealth. (20)