Cash Budget The controller of Sonoma Housewares Inc. Instructs you to prepare a monthly cash budget for the next three months. You are presented with the following budget information: May June July Sales $102,000 $125,000 $162,000 Manufacturing costs 43,000 54,000 58,000 Selling and administrative expenses 30,000 34,000 36,000 Capital expenditures 39,000 The company expects to sell about 10% of its merchandise for cash. Of sales on account, 60% are expected to be collected in the month following the sale and the remainder the following month (second month following sale). Depreciation, insurance, and property tax