Coronado Instruments, a rapidly expanding electronic parts distributor, is formulating its plans for 2022. David Davis, the firm's

director of marketing, has completed his 2022 forecast and is confident that the company will meet or exceed sales estimates. The

following sales figures show the growth that is expected and are the basis for planning in the other corporate departments:

Month

Forecast Sales

Month

Forecast Sales

January

$2.968.000

July

4.240.000

February

3.180.000 August

4240.000

March

2.968,000

September

4,452.000

April

3.392.000

October

4,452.000

May

3.710.000

November

4,240.000

June

4,028.000

December

4,664,000

Charles Miller, assistant controller, is responsible for the cash flow projection, a critical element during a period of rapid expansion. She will use the following information in preparing her cashonalysis

Coronado has experienced an excellent record in accounts receivable collection and expects this trend to continue. The company collects 50% of billings in the month after the sale and 50% in the second month after the sale Uncollectible accounts are nominal and can be ignored in the analysis

2 The purchase of electronic parts is Coronado's largest expenditure, the cost of these items is equal to 60% of sales. Coronado receives 40% of the parts one month before it sells them and 600% during the month of sale.

Historically, Coronado 40% two months after has deared 60% of the accounts payable one month after it receives its purchases, and the remaining 4

Hourly wages, including fringe benefits, depend on the sales volume they are equal to 20% of the current month's sales. The

company pays these wages in the month incurred

General and adininistrative expenses are projected to be $2.915.000 for 2022. The composition of these experties is given

below. The company as all of these expenses uniformly throughout the year, mcept for property taxes. It pays the

property taxes in four equal instalments in the last month of each quarters

Salaries

$519,400

Promotion

710,204

264,996

Property taxes

Insurance

392,200

Utilities

371,000

Depreciation

657,200

$2,915,000.

Coronado makes income tax payments in the first month of each quarter based on income for the price quarter. The tax rate is 30%. The net income for the first quarter of 2022 is projected to be $795,000.

Coronado has a corporate policy of maintaining an end-of-month cash balance of $212,000. It invests or borrows cash monthly, as necessary, to maintain this balance.

B. Coronado uses a calendar-year reporting period.

Prepare a schedule of Cash Receipts and Disbursements for Coronado Instruments, by month, for the second quarter of 2022. Be sure that all receipts, disbursements, borrowing, and investing amounts are presented on a monthly basis. Ignore the interest expense and Income from borrowing and investing. (Round answers to O decimal places, eg 125)