Create a general Excel template for the following managerial accounting report using SUM and IF functions, leaving space to input known data on a separate column and input formulas to automate calculations. Please show all formulas.

SCHEDULE 8 PATTERSON FRAMING LIMITED Cash Budget For the Year Ending December 31, 2018 Schedule 1 3 Cash balance, beginning .......... $50,000 $50,000 $50,000 Add collections from sales ........ 540,000 1,320,000 2,160,000 $55,514 1,680,000 Year $50,000 5,700,000 . . . . . . Total cash available ............ 590,000 1,370,000 2,210,000 1,735,514 5,750,000 Less disbursements: Direct materials. ............ 104,528 210,880 278,520 193,440 787,368 Direct labour . . . . . . . . . . . . . . ... 240,000 620,000 760,000 390,000 2,010,000 Manufacturing overhead ...... 245,250 283,250 297,250 260,250 1,086,000 Selling and administrative..... 110,000 190,000 306,000 186,000 792,000 Income taxes ..... 89,400 89,400 89.400 89,400 357,600 Equipment purchases....... 20,000 20,000 20,000 20,000 80,000 Dividends ............... 10,000 10,000 10,000 10,000 40,000 Total disbursements. 819,178 1,423,530 1,761,170 1,149,090 5,152,968 Excess (deficiency) of cash available over disbursements...... (229,178) (53,530) 448,830 586,424 597,032 Financing: Borrowings (at beginning) .... 281,998 107,424 389,422 Repayment (at end) ...... (389,422) (389,422) Interest*........... (2,820) (3,894) (3,894) (10,608) Total financing .... 279,178 103,530 (393,316) (10,608) Cash balance, ending. $50,000 $50,000 $55,514 - $586,424 $586,424 *The interest payments relate to the total loan balance outstanding each quarter. Calculations for each quarter based on an annual interest rate of 4% are as follows: Quarter 1: $281,998 x 4% x 0.25 = $2,820 Quarters 2 and 3: ($281,998 X 4% x 0.25) + ($107,424 x 4% x 0.25) = $3,894