Actual sales of a retail company, HAZEL Ltd, for November and December2021, together with budgeted monthly sales for January-June 2022, are shown below. Sales) 2021 November 1H0D December 200,000 actuall 2072 January 180,000 February 160,000 March 150,000 April 170,000) May 140,000 June 150,000 The following information became available to you: The purchase price of the goods for HAZEL Ltd for any month is 70% of sales. 60% of purchases are payable in the month of the purchase and the remaining amount is payable in the month following the purchase. Sales are 40% for cash and 60% on credit. 50% of credit sales are collected 1 month after the sale and the other 50% are collected 2 months after the sale. There are no bad debts. Opening cash balance on 01 January 2022 was 13,600 Required: a. Using the information available, prepare a monthly cash budget for HAZEL Ltd for the period from January 2022 to April 2022. [16Marks] You are also provided information on HAZEL Ltd's estimated sales quantities for the second half of 2022: July August September October November December Budgetedsales (Units) 28,000 34,000 40,000 46000 44,000 50000 HAZEL Ltd has a policy of maintaining closing inventory of finished goods at the end of each month equal to 20% of the next month's budgeted sales units. Budgeted sales units inJanuary2023are 55,000 units.