A 8. 2 B 4 Cash Budget 5 6 7 8 9 10 11 12 13 14 15 16 17 Assume actual cash receipts and disbursements will follow the pattern below: (Note: Receivables and Payables of 12/31/22 will have a cash impact in 2023). 1. 18.00% of sales for the year are made in November and December. Since our customers have 60-day terms those funds will be collected in January and February. 2. 83.00% of material purchases will be paid during the year, the remaining portion will be paid in January or February. 3. All other manufacturing and operating costs are paid for when incurred. 4. The budgeted depreciation expense is equal to 0.6% of the fixed manufacturing, selling and administrative expenses. 5. Minimum Cash Balance needed for 2023, $ 140,000. Betty's Design Projected Cash Budget For the year ending, December 31, 2023 18 19 20 21 Beginning Cash Balance Round Dollars to two places, $##.## Ref # $ 22 Cash Inflows: 23 Sales Collections. 24 Account Receivable (Sales last year not collec$ {10.02} 25 Sales made and collected in 2023 $ {10.03} 26 Cash Available $ {10.04} 27 28 Cash Outflows: 29 Purchases 30 31 32 33 34 35 Accounts Payable (Purchases last year) Purchases made and paid for in 2023 Other Manufacturing Costs Direct Labor Total Manufaturing Overhead Selling and Administrative: 36 Less: Depreciaton 37 Total Cash Outflows es es es es es S $ {10.05} $ $ $ {10.06} $ {10.07} 38 39 Budgeted Cash Balance before financing $ (10.08) 40 Needed Minimum Balance $ 41 42 Amount to be borrowed (if any) $ (10.09) 43 44 Budgeted Cash Balance 45 es $ (10.10) Copy ste 18 Format Painter Clipboard Calibri BIU E fx A 0 Sales Cost of Goods Sold Gross Profit Selling Expenses: Fixed Variable 1 Administrative Expenses: Font 2 Fixed 3 Variable 4 Total Selling and Administrative Expenses 15 Net Profit 16 17 18 19 20 21 22 DR A A P Wrap lext General Merge & Center $% 00 000 Conditio Formattin Alignment Number C D E F G H B Betty's Design Projected Income Statement As of December 31, 2022 25,000 Lamps @$45.00 @$28.93 $ 1,125,000.00 723,250.00 401,750.00 23,000.00 (Commission per unit) @ $3.15 78,750.00 101,750.00 42,000.00 @ $0.06 1,500.00 43,500.00 145,250.00 256,500.00 A B C D E F G 1 2 4 5 Current Assets H JK L M Betty's Design Projected Balance Sheet As of December 31, 2022 6 Cash 7 Accounts Receivable 8 Inventory 9 Raw Material 10 Figurines 11 12 Work in Process 13 Finished Goods 14 Electrical Sets Total Current Assets 500 @ $9.20 500 @ $1.25 0 3000 @ $28.93 15 16 Fixed Assets 17 18 19 20 21 Equipment Accumulated Depreciation Total Fixed Assets Total Assets 22 Current Liabilities 23 24 Accounts Payable Total Liabilities 25 Stockholders' Equity 26 Common Stock 27 Retained Earnings 28 Total Stockholders' Equity 29 Total Liabilities and Stockholders' Equity 30 31 22 20,000.00 6,800.00 $ 12,000.00 141,425.00 $ 34,710.00 67,500.00 4,600.00 625.00 86,790.00 194,225.00 13,200.00 $ 207,425.00 $ 54,000.00 $ 54,000,00 153,425.00 $ 207,425.00 NO