Case Analysis on Asian Institute of Business Inc. Asian Institute of Business (AIB) Inc. is a is a non profit organization and it offers a variety of management seminars in Latin America. The organization is very much involved in research in business management which is usually used by interested individuals both in academe and industry. It's seminar activities are largely supported by fees, and research program is supported by membership dues. The company operates on a calendar year basis and in the early part of the 1 quarter, the company is finalizing the budget for the current year(2023). The following information has been taken from approved plans which could be improved if there would be problems encountered: On Seminar Programs: Revenue: The scheduled number of programs should produce $12 million of revenues for the year. Each program is budgeted to produce the same amount of revenue. The revenue collected during the month the program is offered. The programs are scheduled during the basic academic year and are not held during June, July, August and December. Of the revenue, 12% is generated in each of the first five months of the year and the remainder is distributed evenly during September, October and November. Direct expenses: The seminar expenses are made up of three types: 1. The intructors' fees are paid at a rate of 70% of seminar revenue in the month following the seminar. The instructors are considered independent contractors and are not eligible for AIB employee benefits. 2. Facilities fees total $5.6 million for the year. They are the same for each program and are paid in the month the program is given. 3. Annual promotional cost of $1 million are spent equally in all months except in June and July where there is no promotional effort. Research Grants: The research program has a large number of projects nearing completion. The main research activity this year includes feasibility studies for new projects to be started next year. As a result, the total grant expense of \$3 million for 2023 is expected to be paid out at the rate of $500,000 per month during the first six months of the year. Salaries and other Expenses 1. Office lease_annual amount of $240,000 paid monthly at the beginning of each month 2. General and administrative expenses- $1,500,000 annually, or $125,000 per month paid in cash as incurred. 3. Depreciation expense- P240,000 per year. 4. General promotion- annual cost of $600,000, paid evenly on a monthly basis. 5. Salaries and benefits are as follows: Employee benefits amount to $240,000 or 25% of annual salaries. Except for pension contributions, the benefits are paid as salaries are paid as salaries are paid. The annual payment of $24,000, based on 2.5 percent of total annual salaries is due on April 15, 2023. Other information: Membership Income-AlB has 100,000 members, each of whom pays a $100 annual fee. The fee for the calendar year is invoiced in late June. Collection schedule_July, 60%, August 30%, September 5%, and O ctober, 5%. Capital expenditures. This program calls for a total of $510,000 in cash payments to be spread evenly over the 1. 5 months of the 2023 . Cash and temporary investments at January 1, 2023 are estimated at $750,000. Required: Part 1 (50 pts, ) Deadline. Today (a4:30 1. Analyze the cash flows of the company by preparing a monthly cash receipts and cash disbursements for 2023. 2. Determine the cash balance of the company at the end of each month. 3. Based on your answer in (a) and (b), what are the problems of the company in their operations. 4. Wat are the solutions that you could recommend to solve the problems