ABC Company Additional details continued: . ABC Company will pay $60,000 in dividends in Q4 . Currently, the cash balance in the bank is $15,000. ABC Company wants to maintain a minimum cash balance of $10,000 in the bank for each quarter. . Budgeted sales volumes are: Q1 Q2 Q3 K Q4 Selling and Administration expenses for the budgeted year are as follows; Variable Cost: Delivery costs are based on $ 0.3 per sales unit. Commissions are based on 0.1% of sales value. Fixed Costs: $ Accounting & professional services 1800 Administrative & Sales Salaries 77000 Advertising 9000 Computer costs 4200 Depreciation 35000 Office Supplies 2300 Printing 1400 Insurance 1200 Property taxes 500 Rent 20000 Utilities 3000 Total Fixed Costs 155400 ABC Company will purchase a new machine on 1/1/2020 worth $700,00 and will make two equal payments. The first payment will be in Q1 and the second in Q3. Assume the machine was purchased at the beginning of the year. Taxation is 30% on taxable income and paid at the end of Q 4 each year. . Balance sheet information as at 31st December 2019 is as follows; PPE $100,000 Accumulated Depreciation $100,000 Common Stock $280,000 Retained Earnings $145,000 For Cost of goods sold (COGS); Add total costs of production + Beginning Finished goods - Ending Finished goods Inventory. . Interest of $ 9000 on loans is paid in total at the end of the year and is a fixed cost