AA Properties values, advertises and sells residential property on behalf of its customers. The company has been in business for only a short time and is preparing a cash budget for the first four months of 2023. Expected sales of residential properties are as follows. Month December 23 January February March April Units sold 10 10 15 25 30 The average price of each property is 150,000 and AA Properties charges a fee of 3% of the value of each property sold. AA Properties receives 1% in the month of sale and the remaining 2% in the month after sale. The company has nine employees who are paid on a monthly basis. The average salary per employee is 25,000 per year. If more than 20 properties are sold in a given month, each employee is paid in that month a bonus of 140 for each additional property sold. Variable expenses are incurred at the rate of 1% of the value of each property sold and these expenses are paid in the month of sale. Fixed overheads of 5,000 per month are paid in the month in which they arise. AA Properties pays interest every three months on a loan of 180,000 at a rate of 1% per year. The last interest payment in each year is paid in December. AA Properties intends to dispose of surplus vehicles, with a net book value of 15,000, for 20,000. The cash balance at the start of January 2023 is expected to be a deficit of 40,000 Required: (a) Prepare a cash budget for each of the months January to April (30 Marks) (b) Using the information in the Cash Budget prepared in (a) advise AA Properties on their cash position and what potential action could be taken. (10 Marks) (c) Discuss the importance of a cash budget to a company, such as AA Properties. (10 Marks)