4. Prepare a Cash Budget from the data given below for a period of six months (July to December) (1) Month Sales (OMR) Raw Materials(OMR) May 75,000 37.500 June 75,000 37,500 1,50,000 52,500 August 2,25,000 3,67,500 July September 3,00,000 1,27,500 October 1,50,000 97,500 November 1,50,000 67,500 December 1,37,500 (2) Collection estimates: Within the month of sale: 5% During the month following the sale: 80% During the second month following the sale: 15% (3) Payment for raw materials is made in the next month. (4) Salary OMR 11,250, Lease payment OMR 3750, Misc. Exp. OMR 1150, are paid each month (5) Income tax OMR 26,250 each in September and December (6) Payment for research in October OMR 75,000 (7) Opening Balance on 1st July OMR 55,000 (3.5Marks)