6. The following information was extracted from the books of Malimingi Limited; a company which started trading one year ago. Month 2016 April May June July August September October November December Sales sh. 150,000 160,000 160,000 170,000 200,000 200,000 180,000 180,000 200,000 Purchases Sh. 100,000 110,000 90,000 90,000 80,000 130,000 140,000 60,000 60,000 The following additional information is available: - a) Cash in hand at the end of May 2016 will be Sh.180,000. b) 60% of the sales proceeds are received in the current months, 30% in the following month and the balance is received two months after sale. c) Suppliers are paid one month after delivery of goods. d) Corporation tax for 2015 amounting to Sh. 20,000 will be paid on 30 September 2016. e) Contractors' retention monies amounting to Sh. 50,000 will be paid on 30th June 2016. f) The shareholders at their last extra ordinary general meeting increased the share capital by Sh. 70,000 and the first call of sh. 40,000 will be received in October 2016. g) In October 2016, the company is due to receive sh. 20,000 as compensation for a civil suit h) The monthly administration expenses amounting to Sh. 33,000 include factory depreciation charge of Sh.4,000 and preliminary expenses of Sh.3,000 i) Office equipment worth Sh. 13,000 will be paid for in November 2016. Required: - Prepare a cash budget for the period 1 June to 31 December 2016. (20 marks) 3