b-Emma's in May 2015 were $40,000 and they are expected to rise by $5,000 per month for the next 6 months. Of sales, 60 per cent are paid during the month following sale and the rest in the next month. The gross profit percentage is 25 per cent and, each month enough goods are bought to match the next month's sales (in volume). Suppliers are paid one month after purchases are made. Monthly wages amount to $2,000, rent and heating $1,000and depreciation $200. A machine is to be bought in July for $5,000 paid in cash. The purchase of the machine means that the monthly charge for depreciation will increase by $83. The cash balance at June 1sis $6,000. Required: 1. Calculate the cash received from sales for June, July and August.( 10 marks) 2. How much is bought each month? What is the amount to be paid to suppliers?(10 marks) 3. Prepare the cash flow budget for the three months to the end of August.( 20 marks)