Based on the information below prepare a: (1) Sales Budget (2) Purchase Budget (3) Cash Budget for Jan thru March (30 pts) Remember prepare thru Excel. Set up your template based on the information below and link as much information as possible. (30 pts) ABC Company Cash Accounts receivable Finished goods Land Plant and equipment Less: accumulated depreciation Total assets Balance Sheet, December 31 $750,000 $41,700 192,000 $5,000 100,000 25,000 725,000 $1,113,700 $55,000 Accounts payable to suppliers Common Stock $200,000 Retained Earnings 858,700 1,058,700 Total liabilities and equity $1,113,700 Estimated sales of product 2 January 10,000 February 10,700 March April May Selling price 11,200 11,000 10,500 $75 Collections from customers Collected in month of sale Collected the following month Desired finished goods inventory (% of next month's unit sales) Beginning Inventory units & cost Product Z Cost Purchases Paid in the month of purchase Paid in the subsequent month Selling and administrative expenses (includes $25,000 depreciation) Variable Expense 72% 28% 20% 2,200 $25 $175,000 $ 15 75% 25% fixed per unit sold