Exercice 5 SIMAR Inc, provides the following information to prepare the cash budget for the first three months of 2020. 1- Total sales in November and December were $ 130,000, respectively and $ 140,000 2- the company anticipates the following monthly sales: -01/2020: $ 150,000 - 02/2020: $ 120,000 - 03/2020: $ 130,000 3 - The distribution of the cashing of sales is done as follows. - 20% are paid in cash. -45% the following month -35% two months after the sale 4-The monthly purchases represent 65% of these total sales of the month, 30% are paid cash and 70% in the mont following the month in which the goods are purchased. 5- The wages representing 13% of the sales of the month. 6-The monthly rent payable at the beginning of each month is $ 7000 7-The amortization amounts to $ 2500 a month. 8-Other operating expenses represent 9% of sales. 9-The Company plans to acquire in 01/2020 a new machine in the amount of $ 23000 10- The company will have to pay the $ 5500 tax in 03/2020, 11- The Interest payable on the debt will amount to 53000 in 02/2020. 12- The company expects to receive a dividend of $ 8000 from one of its subsidiaries in 03/2020 13 - On 01/01/2020 cash is $ 12,000. Prepare cash Budget for the first three months