Blue Lagoon Kite Company, a small Portland firm that sells kites on the Web, wants a master budget for the 3 months beginning January 1, 20X2. It desires an ending minimum cash balance of $4,000 each month. Sales are forecasted at an average wholesale selling price of S10 per kite. Merchandise costs average S4 per kite. All sales are on credit, payable within 30 days, but experience has shown that 40% of current sales are collected in the current month, 30% in the next month, and 30% in the month thereafter. Bad debts are negligible. In January, Blue Lagoon Kite is beginning just-in-time (JIT) deliveries from suppliers, which means that purchases will equal expected sales. On January 1, purchases will cease until inventory decreases to S25,000, after which time purchases will equal sales. Purchases during any given month are paid in full during the following month. EE (Click the icon to view the monthly operating expenses.) (Click the icon to view the additional information.) EE (Click the icon to view the balance sheet as of December 31, 20X1.) (Click the icon to view recent and forecasted sales