Chapter 3 Problem 14
a	Using the information provided, construct a monthly cash budget for October through December 2011. Based on your analysis, will Noble enjoy a surfeit of cash, or require external financing?
b	Construct a pro forma income statement for the first fiscal quarter of 2012 and a pro forma balance sheet as of December 31, 2011. What is your estimated external financing required for December 31?
c	Does the December 31, 2011, estimated external financing equal your cash surplus (deficit) for this date from your cash budget?
d	Based on your answers above, construct a cash flow forecast for Noble for the period October through December 2011.
Noble Selected Information and Financial Statements
	Sales (20 percent for cash, the rest on 30-day credit terms):
	2011 Actual			2011Projected
	July	August	September	October	November	December
	76,000	88,000	266,000	125,000	51,000	53,000
	Purchases (all on 60-day terms):
	2011 Actual			2011 Projected
	July	August	September	October	November	December
	116,000	122,000	257,000	62,000	27,000	26,000
Salaries payable monthly				20,000
Principal payment on debt due in December				25,700
Interest due in December				9,000
Dividend payable in December				15,000
Taxes payable in November				19,000
Addition to accumulated depreciation in December				4,000
Cash balance on October 1, 2011				35,000
Minimum desired cash balance				15,000
Noble