Based on the budget you have compiled, draw an overall conclusion as to the current Cash position of Pools Galore. This answer will be reviewed based on the calculations you have compiled so please ensure your answer is consistent with your figures.

You are the manager of Pools Galore who are in the business of selling inground pools and landscaping to high end customers. At 1 January 2021, the business had a bank balance of $124,000. Provided below are estimates for receipts and payments for the three months ending 31 March 2021. Pools Galore January $ February $ March $ 380,000 500,000 420,000 175,000 Receipts Sales Proceeds from the sale of old non-curent assets Payments Salaries and wages Supplies New equipment Purchase of plants 180,000 40,000 205,000 27,500 165,000 35,000 275,000 105,000 115,000 130,000 Sales are received as follows: 50% in month of sale 30% in month following sale 20% in second month following sale