Can some answer this with solutions? Need this in 30 mins! Thank you!!

million principal at the end of 8. Diogenes Dy, the general manager of DG Stores, wants to find out if their company has enough cash to pay for a P6-million piece of property which may be the site of another branch. This is expected to be paid in the third quarter of 2016 should the company decide to buy it. He asked his chief accountant to prepare a cash budget. The following assumptions are used in the preparation a. of the cash budget Projected quarterly sales are as follows: First quarter P12 million Second quarter 15 million Third quarter 15 million Fourth quarter 18 million Seventy percent (70%) of the sales are collected in the quarter. The remaining 30% is paid the following quarter. Cost of sales is 75% of sales. Inventories are purchased in the same quarter sales were generated. Ninety percent of the purchases is paid within the quarter these purchases are made and the remaining 10% is paid the following quarter. Included in fixed operating expenses are salaries, rent, security which amount to P1 million for the first two quarters. The amount is expected to increase to P1.25 million starting third quarter. Variable operating ex- penses are 5% of sales. e. Interest payments amount to P200 000 per quarter. C. f. The company is subject to 30% tax rate. Below are the estimated income tax payments per quarter: First quarter P500 000 Second quarter 360 000 Third quarter 540 000 Fourth quarter 465 000 Cash at the beginning of 2015 is P750 000. The company plans to increase the target cash balance to P1 million in 2016. Sale for the fourth quarter of 2015 was P15 million. Requirements: Prepare the 2016 cash budget. Find out if the company will have enough cash to pay the P6-million property in the third quarter. h