a Using the information provided, construct a monthly cash budget for October through December 2021. Based on your analysis, will Noble enjoy a surfeit of cash, or require external financing? b Construct a pro forma income statement for the fiscal quarter ending December 31,2021 and a pro forma balance sheet as of December 31,2021 . What is your estimated extemal financing needed for December 31 ? c Does the December 31,2021, estimated external financing equal your cash surplus (deficit) for this date from your meh hushan? Noble Selected Information and Financial Statements Sales ( 20 percent for cash, the rest on 30-day credit termis) 31 Noble's annual income statement and balance sheet for September 30, 2021 appear below. 32 Additional information about the company's accounting methods and expectations for 33 the last three months of 2021 appear in the footnotes. 75 1. Cost of goods sold consists entirely of items purchased during the quarter. 76 2. Selling and administrative expenses consist entirely of salaries. 77 3. Depreciation is straight-line at the rate of $4,000 per quarter. 78 4. Accounts receivable equals the outstanding credit sales at the end of December, 79 5. Inventory, gross fixed assets, and long-term debt balances do not change. 80 6. Accounts payable equals the outstanding purchases at the end of December. 81 7. Accrued expenses are not expected to change in the last quarter. 8. $25.7 due December 2021. No payments for remainder of year. 9. Taxes payable decreases by the tax payments and increases by taxes calculated on the income stat a Using the information provided, construct a monthly cash budget for October through December 2021. Based on your analysis, will Noble enjoy a surfeit of cash, or require external financing? b Construct a pro forma income statement for the fiscal quarter ending December 31,2021 and a pro forma balance sheet as of December 31,2021 . What is your estimated extemal financing needed for December 31 ? c Does the December 31,2021, estimated external financing equal your cash surplus (deficit) for this date from your meh hushan? Noble Selected Information and Financial Statements Sales ( 20 percent for cash, the rest on 30-day credit termis) 31 Noble's annual income statement and balance sheet for September 30, 2021 appear below. 32 Additional information about the company's accounting methods and expectations for 33 the last three months of 2021 appear in the footnotes. 75 1. Cost of goods sold consists entirely of items purchased during the quarter. 76 2. Selling and administrative expenses consist entirely of salaries. 77 3. Depreciation is straight-line at the rate of $4,000 per quarter. 78 4. Accounts receivable equals the outstanding credit sales at the end of December, 79 5. Inventory, gross fixed assets, and long-term debt balances do not change. 80 6. Accounts payable equals the outstanding purchases at the end of December. 81 7. Accrued expenses are not expected to change in the last quarter. 8. $25.7 due December 2021. No payments for remainder of year. 9. Taxes payable decreases by the tax payments and increases by taxes calculated on the income stat
