Appendix 4 Prepare a three month Cash Budget for Active Sport Gym and Leisure Shop to estimate the cash balance at the end of April from the following information. The projected Bank Account balance on 1 January is 32 180. Projected Shop Sales Figures: December January February March April Credit Sales () 4350 3150 3 600 3825 3.900 Cash Sales (E) 1450 1050 1200 1275 1300 Credit customers pay one month after the month of sale. Projected Gym Takings: January - 22 400 February - 22 400 March-10% increase on February April - 500 increase on March Estimated Purchases: All purchases are on credit and suppliers are paid one month after goods are bought. o December 3 000 January - 500 less than December February-10% increase on January March-Same as February o April-12% increase on March Expenses: o Wages are 11 000 per month. A 5% wage increase is expected from 1 April. Light and Heat is 550 per month. An 8% increase is expected from 1 March. Maintenance is carried out three times a year - February, June and October. costs 55 500 per year. General expenses are estimated at 30 000 per year, paid every 2 months starting in February. This