Due in 8 hours please help!! Thank you in advance!

Active Life Inc., a sports equipment retailer, needs to prepare a cash budget for the first quarter of 2021. The financial staff at Active Life has forecasted the following sales figures: January February March April May $100,000 $150,000 $300,000 $250,000 $150,000 Actual sales in October, November, and December 2020 were $125,000, $146,000, and $125,000, respectively. Cash sales are 40% of the total, and the rest are on credit. Under the current credit policy, the firm expects to collect 60% of credit sales the following month, 30% two months after, and the remainder in the third month after the sale. Each month, the firm makes inventory purchases equal to 45% of the of the next month's sales. The firm pays for 40% of its inventory purchases in the same month and 60% in the following month; nevertheless, the firm enjoys a 2% discount if it pays during the same month as the purchase. Estimated disbursements include monthly wages and other expenses representing 25% of the same month's sales; a major capital outlay of $30,000 expected in January; a dividend payment of $25,000 in February; $40,000 of long-term debt maturing in March; and a tax payment of $60,000 in April. The interest rate on its short-term borrowing is 7%. It has a required minimum cash balance of $10,000 every month, and has an ending cash balance of $30,000 for December 2020. a) Using the above information, create a cash budget for January to June 2021. The cash budget should account for short-term borrowing and payback of outstanding loans. Using Excel's outline feature, group the worksheet area at the top of the cash budget so that the preliminary calculations can be easily hidden or unhidden (Analysis, Identify and Access Needed Information and use information effectively to accomplish a specific purpose 12 pts). b) Ms. Elaine Benes, Active Life's CFO, is considering three credit proposals from the firm's supplier. In the first proposal the firm will pay 75% of its purchases in the same month and 25% in the following month; in the second proposal the firm will pay half in the same month and half in the following month; in the third proposal the firm will pay 25% of its purchases in the same month and 75% in the following month. Suppliers have offered 4%, 3%, and 2% discounts over the payments made during the same month of the purchase if the firm pays according to the first, second, and third proposals, respectively (Identify and Access Needed Information 4 pts). Optional: The CFO has asked you to use the Scenario Manager to see which proposal has the lowest total interest cost. c) Ms. Benes is now considering three credit policies from the firm's customers. In the first policy the firm will sell 60% on cash and will collect 60% of the balance during the first month, and the remaining balance during the second month. In the second policy, 50% of sales will be on cash, and the firm will collect 50%, 30%, and 20% of credit sales during the first second, and third months, respectively. The last policy consists of 40% sales on cash, and 40%, 30%, and 30% of the remaining balance will be collected during the first second, and third months, respectively. (Identify and Access Needed Information 4 pt). Optional: The CFO has asked you to use the Scenario Manager to see what credit proposal has the lowest total interest cost. d) Interpretation: please describe where you obtained information to develop analyses and interpret the results. Please include your written description in the "interpretation" tab. If you do not complete this section with your words or leave the interpretation tab as a blank, you receive 0 point in this HW. D G H K March April May A B C E 1 Please complete the yellow highlighted parts. Please show the formulas if the number or figures are not provided in the problem. 2 a), b), c) 3 Active Life Inc. 4 Cash Budget 5 For the Period January to April 2021 6 October November December January February 7 Sales 8 Collections: 9 Cash 10 First Month 11 Scoond Month 12 Third Month 13 Total Collections 14 Purchases 15 Payments: 16 During Month 17 Month After 18 Total Payments 19 Collections 20 Less disbursements: 21 Inventory Payments 22 Short-term Interest 23 Wages and other exp. 24 Capital outlay 25 Dividend (Common) 26 Long-term debt 27 28 Total Disbursements 29 Beginning Cash Balance 30 Net Additions to Cash 31 Unadjusted Cash Balance 32 Add: Current Borrowing 33 Ending Cash Balance 34 Cumulative Borrowing 35 36 Minimum Cash Balance 10,000 37 Discount for Paying in Same Month 2.00% 38 Annual Interest Rate 7.00% 39 Monthly Interest Rate 0.58% 40 Total Interest Cost 482 41 Beginning receivables 150,000 42 Beginning payables 100,000 Taxes Active Life Inc., a sports equipment retailer, needs to prepare a cash budget for the first quarter of 2021. The financial staff at Active Life has forecasted the following sales figures: January February March April May $100,000 $150,000 $300,000 $250,000 $150,000 Actual sales in October, November, and December 2020 were $125,000, $146,000, and $125,000, respectively. Cash sales are 40% of the total, and the rest are on credit. Under the current credit policy, the firm expects to collect 60% of credit sales the following month, 30% two months after, and the remainder in the third month after the sale. Each month, the firm makes inventory purchases equal to 45% of the of the next month's sales. The firm pays for 40% of its inventory purchases in the same month and 60% in the following month; nevertheless, the firm enjoys a 2% discount if it pays during the same month as the purchase. Estimated disbursements include monthly wages and other expenses representing 25% of the same month's sales; a major capital outlay of $30,000 expected in January; a dividend payment of $25,000 in February; $40,000 of long-term debt maturing in March; and a tax payment of $60,000 in April. The interest rate on its short-term borrowing is 7%. It has a required minimum cash balance of $10,000 every month, and has an ending cash balance of $30,000 for December 2020. a) Using the above information, create a cash budget for January to June 2021. The cash budget should account for short-term borrowing and payback of outstanding loans. Using Excel's outline feature, group the worksheet area at the top of the cash budget so that the preliminary calculations can be easily hidden or unhidden (Analysis, Identify and Access Needed Information and use information effectively to accomplish a specific purpose 12 pts). b) Ms. Elaine Benes, Active Life's CFO, is considering three credit proposals from the firm's supplier. In the first proposal the firm will pay 75% of its purchases in the same month and 25% in the following month; in the second proposal the firm will pay half in the same month and half in the following month; in the third proposal the firm will pay 25% of its purchases in the same month and 75% in the following month. Suppliers have offered 4%, 3%, and 2% discounts over the payments made during the same month of the purchase if the firm pays according to the first, second, and third proposals, respectively (Identify and Access Needed Information 4 pts). Optional: The CFO has asked you to use the Scenario Manager to see which proposal has the lowest total interest cost. c) Ms. Benes is now considering three credit policies from the firm's customers. In the first policy the firm will sell 60% on cash and will collect 60% of the balance during the first month, and the remaining balance during the second month. In the second policy, 50% of sales will be on cash, and the firm will collect 50%, 30%, and 20% of credit sales during the first second, and third months, respectively. The last policy consists of 40% sales on cash, and 40%, 30%, and 30% of the remaining balance will be collected during the first second, and third months, respectively. (Identify and Access Needed Information 4 pt). Optional: The CFO has asked you to use the Scenario Manager to see what credit proposal has the lowest total interest cost. d) Interpretation: please describe where you obtained information to develop analyses and interpret the results. Please include your written description in the "interpretation" tab. If you do not complete this section with your words or leave the interpretation tab as a blank, you receive 0 point in this HW. D G H K March April May A B C E 1 Please complete the yellow highlighted parts. Please show the formulas if the number or figures are not provided in the problem. 2 a), b), c) 3 Active Life Inc. 4 Cash Budget 5 For the Period January to April 2021 6 October November December January February 7 Sales 8 Collections: 9 Cash 10 First Month 11 Scoond Month 12 Third Month 13 Total Collections 14 Purchases 15 Payments: 16 During Month 17 Month After 18 Total Payments 19 Collections 20 Less disbursements: 21 Inventory Payments 22 Short-term Interest 23 Wages and other exp. 24 Capital outlay 25 Dividend (Common) 26 Long-term debt 27 28 Total Disbursements 29 Beginning Cash Balance 30 Net Additions to Cash 31 Unadjusted Cash Balance 32 Add: Current Borrowing 33 Ending Cash Balance 34 Cumulative Borrowing 35 36 Minimum Cash Balance 10,000 37 Discount for Paying in Same Month 2.00% 38 Annual Interest Rate 7.00% 39 Monthly Interest Rate 0.58% 40 Total Interest Cost 482 41 Beginning receivables 150,000 42 Beginning payables 100,000 Taxes