determining financing requirements. Cash budgets are essential to all small businesses. In this assignment, you are required to do the following: Develop a spreadsheet with a cash budget with lagging collections Determine the net cash flows for the year Forecast the cumulative dollar amount of the external financing required for the year You are also required to prepare a 3-page analysis of the results of your cash budget. Middletown Construction, Inc. has estimated the following sales forecast over the next 12 months (they close in the winter) $0 January February SO March $275,000 April $275,000 | May 5312,000 June $417,000 July $714,000 August 5611,000 September 5827.000 October $500,000 November 5116.000 December 50 The company also gathered the following collection estimates regarding the forecast sales Payment collection within the month of sale -20% Payment collection the month following selesa 60 Payment collection the second month following sales 20 Payment for raw materials and labor costs are paid the went afer the purchase and are estimated as follows: Q o Payments for raw materials and labor costs are paid the month after the purchase and are estimated as follows: March $220,000 April 5240,000 May $225,000 June $287,000 July $350,000 August $415.000 September $242,000 October $214,000 November $222.000 Additional financial information is as follows: . Administrative salaries will approximately amount to $30,000 a month. Lease payments are around $10,000 a month . A one-time new plant investment for $23,000 is expected to incur and be paid in June. Income tax payments estimated to be around 550,000 will be due in both June and September Miscellaneous costs are estimated to be around $5,000 a month. Cash on hand on March 1 will be around 550,000, and a minimum cash balance of $50,000 shall be on hand at all times To receive full credit on this assignment, please show all work, including formulas and calculations used to arrive at the financial values Prepare a monthly cash budget for Middletown Construction, Inc. for the 12-month period of January through December Use Excel to prepare the monthly cash budget with the use of this template Based on your cash budget findings answer the following questions in a 3.page analysis. . Will the company need any outside financing When is the line of credit the highest for MCI will need? If you were a bank manager, would you want MCI as your client? Why or why not? Please submit your assignment Submitting your assignment in APA format means at a minimum, you will need the following: O o determining financing requirements. Cash budgets are essential to all small businesses. In this assignment, you are required to do the following: Develop a spreadsheet with a cash budget with lagging collections Determine the net cash flows for the year Forecast the cumulative dollar amount of the external financing required for the year You are also required to prepare a 3-page analysis of the results of your cash budget. Middletown Construction, Inc. has estimated the following sales forecast over the next 12 months (they close in the winter) $0 January February SO March $275,000 April $275,000 | May 5312,000 June $417,000 July $714,000 August 5611,000 September 5827.000 October $500,000 November 5116.000 December 50 The company also gathered the following collection estimates regarding the forecast sales Payment collection within the month of sale -20% Payment collection the month following selesa 60 Payment collection the second month following sales 20 Payment for raw materials and labor costs are paid the went afer the purchase and are estimated as follows: Q o Payments for raw materials and labor costs are paid the month after the purchase and are estimated as follows: March $220,000 April 5240,000 May $225,000 June $287,000 July $350,000 August $415.000 September $242,000 October $214,000 November $222.000 Additional financial information is as follows: . Administrative salaries will approximately amount to $30,000 a month. Lease payments are around $10,000 a month . A one-time new plant investment for $23,000 is expected to incur and be paid in June. Income tax payments estimated to be around 550,000 will be due in both June and September Miscellaneous costs are estimated to be around $5,000 a month. Cash on hand on March 1 will be around 550,000, and a minimum cash balance of $50,000 shall be on hand at all times To receive full credit on this assignment, please show all work, including formulas and calculations used to arrive at the financial values Prepare a monthly cash budget for Middletown Construction, Inc. for the 12-month period of January through December Use Excel to prepare the monthly cash budget with the use of this template Based on your cash budget findings answer the following questions in a 3.page analysis. . Will the company need any outside financing When is the line of credit the highest for MCI will need? If you were a bank manager, would you want MCI as your client? Why or why not? Please submit your assignment Submitting your assignment in APA format means at a minimum, you will need the following: O o