Assignment #9 Prepare a monthly cash budget for 2019 and the first quarter of 2020. Prepare your calculations to one decimal. It is November 2018 and you have been asked to work on next year's cash budget for the Far Flung Sports Company. You have gathered the following information: 1,500,000 Estimated December 31 2018 cash balance Estimated Data 2019 Total sales for 2019 Percent of total sales in January Percent of total sales in June, July and August, spread evenly Percent of total sales in the eight remaining months, spread evenly Percent of monthly sales tha are cash sales Percent of monthly credit sales that are collected one month after the sale Percent of monthly credit sales that are collected two months after the sale Percent of monthly credit sales that are collected three months after the sale Annual amortization expense Quarterly capital expenditure, paid quarterly starting in March Annual income tax expense, paid quarterly starting in February Monthly wages and salaries Annual purchases, made proportionally according to sales Percent of monthly purchases that are cash purchases Percent of monthly credit purchases that are paid one month after purchase Percent of monthly credit purchases that are paid two months after purchase Percent of monthly credit purchases that are paid three months after purchase Annual rent expense, paid monthly 32,500,000 8% 60% 32% 10% 25% 50% 25% $500,000 $80,000 $400,000 $500,000 $22,500,000 5% 50% 20% 30% $120,000