Esquire Products Inc. expects the following monthly sales: January $38,000 July $32.000 February 29,000 August 36.800 March 22,00 September 39.680 April 24,000 October 44,600 18. eee November 52.600 June 16. December 34.800 Total sales $384.600 May Cosh sales are 40 percent in a given month, with the remainder going into accounts receivable. All receivables are collected in the month following the sale. Esquire sells all of its goods for $2 each and produces them for $1 each. Esquire uses level production, and average monthly production is equal to annual production divided by 12 a. Generate a monthly production and inventory schedule in units. Beginning inventory in January is 22.000 Esquire Producten Production and Inventory Schedule in Units Produotion a les b. Prepare a cash receipts schedule for January through December. Assume that dollar sales in the prior December were $20,000 Eco Products in - B3: :::: February Merah : January Por more credits Esquine Products in Cach Receipt Bohedule August September October November Decem c. Prepare a cash payments schedule for January through December. The production costs ($1 per unit produced) are paid for in the month in which they occur. Other cash payments besides those for production costs) are $8.400 per month Esquire Products line Cash Payments Bohedule Constant production Esquire Products the Cash Payments Bohedule Constant production August September July December Production Other cash payments Totalcash payments d. Construct a cash budget for January through December using the cash receipts schedule from part b and the cash payments schedule from part c. The beginning cash balance is $3,000, which is also the minimum desired. (Negative amounts should be Indicated by a minus sign.) Esquire Products in Cach Edgat February March January April May Beginning cash Natashow Cue nca Monthly loan or repayment Ending cash bane Cumulative lange Esquire Producting Cash Budget August September y October Beginning cash Motor Ending chance Cumbo e. Determine total current assets for each month. Include cash, accounts receivable, and inventory. The accounts receivable for a given month is equal to 60 percent of that month's sales. Inventory is equal to ending inventory (part o) times the cost of $i per unit. Esquire Product line Agats Account Cash Inventory Total Current March May August September October