6 Palladium Ltd. is looking to update their cash budget for January to April time period. Based on the information below prepare companies cash budget. - Palladium Ltd is a new business that anticipates sales of $20,000 in January, with anticipated growth of 5% per month; the sale 40% credit and 60% cash; all sales terms are net 60 days. - COGS is 25% of sales; terms of purchase are 30 days -Expenses are 35% of sales; paid in the month they are incurred -In March, the company pays $25,000 cash for new equipment -The opening cash balance is $5,000 No minimum cash balance is required What recommendations would you provide based on the results of this cash budget (14 points)