4. The company must maintain a minimum cash balance of $5,000. An open line of credit is available at a local bank for any borrowing that may be needed areinmultiples of $1,000 and are done at the beginning of a moreh. Interest Create a tab titled "Cash" that looks lke the i help you understand how to complete the formulas. 1% per month and h padeach month based on the previous month's balance. mage at the top of the next page and make sure to follow the rules on the Microsoft Excel checklist. There are a few tricky cells here and the video wil Oakton Furniture Cash Budget For the Quarter Ended March 31 January Fe 6 Beginning Cash Balance 7 Add Cash Recelpts Cash Pvailable 9 Less Payments 10 For Inventory Purchases 111 For Operating Expenses 12 For Land Purchase For Dvidends Total Budgeted Payments 5 SurpluAShotage % Financing Activity T Borowin 19 Repayment 20 Ending Cash Balance Check Figure: Ending Cash is $36,785. S. Create a tab title "Financials" and prepare the financial statements as of March 31. All three of the images below will be on the same tab Check Figures: Net Income is $116,460. Just make sure As- sets Liabilities +Stockholders' Equity Income Statement Trial Balance as of December 31 Debits Credits S40,000 70,000 119,625 145,000 Cash Accounts Receivable Inventory Property and Equipment (net) Accounts Pavable Capital Stock Retained Earnings $110,100 123,000 141,525 Sales Data $280,00 290,000 330,000 320,000 340,000 40% 60% December sales January sales February sales March sales April sales Credit Sales as a percent of sales Cash Sales as a percent of sales Purchases Data Cost of Goods Desired Inventory as percent of following month needs Purchases paid in month of purchase Purchases paid in month after purchase cent of sales 55% 75% 40% 60% Other Data 5% of sales 15% of sales 12,000 per month 25,000 per month 7,500 per quarter Other Expenses Salary Expense Advertising Depreciation Dividends in February Land Purchase in January Land Purchase in March 39,000 2,000 8,000 4. The company must maintain a minimum cash balance of $5,000. An open line of credit is available at a local bank for any borrowing that may be needed areinmultiples of $1,000 and are done at the beginning of a moreh. Interest Create a tab titled "Cash" that looks lke the i help you understand how to complete the formulas. 1% per month and h padeach month based on the previous month's balance. mage at the top of the next page and make sure to follow the rules on the Microsoft Excel checklist. There are a few tricky cells here and the video wil Oakton Furniture Cash Budget For the Quarter Ended March 31 January Fe 6 Beginning Cash Balance 7 Add Cash Recelpts Cash Pvailable 9 Less Payments 10 For Inventory Purchases 111 For Operating Expenses 12 For Land Purchase For Dvidends Total Budgeted Payments 5 SurpluAShotage % Financing Activity T Borowin 19 Repayment 20 Ending Cash Balance Check Figure: Ending Cash is $36,785. S. Create a tab title "Financials" and prepare the financial statements as of March 31. All three of the images below will be on the same tab Check Figures: Net Income is $116,460. Just make sure As- sets Liabilities +Stockholders' Equity Income Statement Trial Balance as of December 31 Debits Credits S40,000 70,000 119,625 145,000 Cash Accounts Receivable Inventory Property and Equipment (net) Accounts Pavable Capital Stock Retained Earnings $110,100 123,000 141,525 Sales Data $280,00 290,000 330,000 320,000 340,000 40% 60% December sales January sales February sales March sales April sales Credit Sales as a percent of sales Cash Sales as a percent of sales Purchases Data Cost of Goods Desired Inventory as percent of following month needs Purchases paid in month of purchase Purchases paid in month after purchase cent of sales 55% 75% 40% 60% Other Data 5% of sales 15% of sales 12,000 per month 25,000 per month 7,500 per quarter Other Expenses Salary Expense Advertising Depreciation Dividends in February Land Purchase in January Land Purchase in March 39,000 2,000 8,000