Additional information - Management of Whatshawasey Ple has decided not to use overulaft financirig arrangement in the year 2022 because it is too costly and also it puts unterse linanctill biruen on hie company. Management has decided to replace the overdrait imanctrg witts a 5 -yr Ichar at a rate of 10% in 2022. - At the last Arnual General Meeting {AGM) hoit in December, 2121 , sharohchiters agitated for 60% share of net profit as dividend which managements agreed to implentent 42022. - Government' 5 fiscal plan for the year 2022 in the form of Budget as read by the Minister of Finance in Parliament in November 2021 indicated that corporate tax will lou reduced by 5%. Required: 1. Using Percentage of Sales Method of tinancul plannang, trail a budgeted income statement and a budgeted financial position of Whatshawasey Ple for the year 2022, if management of the company plans to increase sales by 20% in 2022. ii. Determine the external financing required by the company and hence propose to management of Whatshawasey Ple two (2) available options for financing the deficit in assets in the projected balance sheet in (i) above and state one implication of each proposed financing method. (15mks) b) State three (3) responsibilities of a budget officer in a budget preparation. (3mks) c) Stafe two (2) financial objectives of a business entity. (2mks) Additional information - Management of Whatshawasey Ple has decided not to use overulaft financirig arrangement in the year 2022 because it is too costly and also it puts unterse linanctill biruen on hie company. Management has decided to replace the overdrait imanctrg witts a 5 -yr Ichar at a rate of 10% in 2022. - At the last Arnual General Meeting {AGM) hoit in December, 2121 , sharohchiters agitated for 60% share of net profit as dividend which managements agreed to implentent 42022. - Government' 5 fiscal plan for the year 2022 in the form of Budget as read by the Minister of Finance in Parliament in November 2021 indicated that corporate tax will lou reduced by 5%. Required: 1. Using Percentage of Sales Method of tinancul plannang, trail a budgeted income statement and a budgeted financial position of Whatshawasey Ple for the year 2022, if management of the company plans to increase sales by 20% in 2022. ii. Determine the external financing required by the company and hence propose to management of Whatshawasey Ple two (2) available options for financing the deficit in assets in the projected balance sheet in (i) above and state one implication of each proposed financing method. (15mks) b) State three (3) responsibilities of a budget officer in a budget preparation. (3mks) c) Stafe two (2) financial objectives of a business entity. (2mks)