Fill in the cash budget form according to the fact sheet.

Fact Sheet Jan-2019 Feb-2019 Mar-2019 Apr-2019 May-2019 Jun-2019 Jul-2019 Aug-2019 Sep-2019 Oct-2019 Nov-2019 Dec-2019 160 176 1 51 1 26 116 99 84 73 130 160 1 1751 188 Sales Volume - Sunglassses Service Volume - No. of Clie88 97 | 109 121 126 | 113 | 121 139 1 53 1 67 188 I 194 Selling Price - Sunglasses ######## Cost Price - Sunglasses $60.00 Selling Price - Prescriptic ######## Cost Price - Prescription & $80.00 Service Revenue $75.00 Number of Sale Assistants: 2 Wage Rate per Month per Per $4,000 Number of Office Staff: 1 Wage Rate per Month per Per $1,500 Number of Optometrists 2 Wage Rate per Month per Per $6,500 Additional Information for Jan 2019 - Dec 2019: Both James and Olivia are partners within the business and each of them draws an amount of $1600 per month. Each partner plans on increasing the drawings to $3200 per month starting from January of 2020. As the manager, James keeps a close eye on inventory management and would like to always maintain a monthly ending inventory requirement of 30% of next month's sales. Additionally, all purchases with the current supplier are on a credit basis, with 50% of the amount settled in the same month of purchase and the remaining 50% settled one month after the month of purchase. The business typically will have 80% of their sales as cash, with the remaining 20% on credit. Of the credit sales, 70% is collected in the month of sale, 20% is collected one month after the sale, and 10% is collected two months after the sale. All customers coming in for an eye check pay for the service in cash 100% of the time. The business has a range of equipment and other fixed assets such as: Specialised optometry equipment to provide the comprehensive eye-tests. The total cost of equipment is $10560 and it is expected to last 4 years. Other office equipment has a historical cost of $30000 and depreciates at 20% per annuin. Shop fittings were originally purchased at $63600 and depreciate at 10% per annum. All fixed assets have $0 residual value and are depreciated using the straight-line method of depreciation. Other Fixed Costs for Jan 2019 - Dec 2019: Marketing expense of $900 per annum is paid evenly across 12 months. $3000 of annual general business insurance is paid in July every year. Bank account fees works out to be $48 per month and are paid at the start of each quarter. On average, the office supplies are purchased and expensed every month to the amount of $90. Council rates are $600 per year and are usually paid in December each year, t the start of each quarter and works out to be $6400 per month. Water, gas and electricity are combined under on utility expense which adds up $495 per quarter and is usually paid at the end of each quarter. **Note: Quarter 1 runs from 1 Jan-31 Mar; Quarter 2 runs from 1 Apr - 30 Jun; Quarter 3 runs from 1 Jul - 30 Sep: Quarter 4 runs from 1 Oct - 31 D CASH BUDGET Jan-20 Feb-20 | Mar-20 Apr-20 May-20 Jun-20 Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Dec-20 TOTAL OPENING CASH BALANCE CASH INFLOWS: TOTAL CASH AVAILABLE: L L L L L CASH OUTFLOWS CLOSING BANK BALANCE Fact Sheet Jan-2019 Feb-2019 Mar-2019 Apr-2019 May-2019 Jun-2019 Jul-2019 Aug-2019 Sep-2019 Oct-2019 Nov-2019 Dec-2019 160 176 1 51 1 26 116 99 84 73 130 160 1 1751 188 Sales Volume - Sunglassses Service Volume - No. of Clie88 97 | 109 121 126 | 113 | 121 139 1 53 1 67 188 I 194 Selling Price - Sunglasses ######## Cost Price - Sunglasses $60.00 Selling Price - Prescriptic ######## Cost Price - Prescription & $80.00 Service Revenue $75.00 Number of Sale Assistants: 2 Wage Rate per Month per Per $4,000 Number of Office Staff: 1 Wage Rate per Month per Per $1,500 Number of Optometrists 2 Wage Rate per Month per Per $6,500 Additional Information for Jan 2019 - Dec 2019: Both James and Olivia are partners within the business and each of them draws an amount of $1600 per month. Each partner plans on increasing the drawings to $3200 per month starting from January of 2020. As the manager, James keeps a close eye on inventory management and would like to always maintain a monthly ending inventory requirement of 30% of next month's sales. Additionally, all purchases with the current supplier are on a credit basis, with 50% of the amount settled in the same month of purchase and the remaining 50% settled one month after the month of purchase. The business typically will have 80% of their sales as cash, with the remaining 20% on credit. Of the credit sales, 70% is collected in the month of sale, 20% is collected one month after the sale, and 10% is collected two months after the sale. All customers coming in for an eye check pay for the service in cash 100% of the time. The business has a range of equipment and other fixed assets such as: Specialised optometry equipment to provide the comprehensive eye-tests. The total cost of equipment is $10560 and it is expected to last 4 years. Other office equipment has a historical cost of $30000 and depreciates at 20% per annuin. Shop fittings were originally purchased at $63600 and depreciate at 10% per annum. All fixed assets have $0 residual value and are depreciated using the straight-line method of depreciation. Other Fixed Costs for Jan 2019 - Dec 2019: Marketing expense of $900 per annum is paid evenly across 12 months. $3000 of annual general business insurance is paid in July every year. Bank account fees works out to be $48 per month and are paid at the start of each quarter. On average, the office supplies are purchased and expensed every month to the amount of $90. Council rates are $600 per year and are usually paid in December each year, t the start of each quarter and works out to be $6400 per month. Water, gas and electricity are combined under on utility expense which adds up $495 per quarter and is usually paid at the end of each quarter. **Note: Quarter 1 runs from 1 Jan-31 Mar; Quarter 2 runs from 1 Apr - 30 Jun; Quarter 3 runs from 1 Jul - 30 Sep: Quarter 4 runs from 1 Oct - 31 D CASH BUDGET Jan-20 Feb-20 | Mar-20 Apr-20 May-20 Jun-20 Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Dec-20 TOTAL OPENING CASH BALANCE CASH INFLOWS: TOTAL CASH AVAILABLE: L L L L L CASH OUTFLOWS CLOSING BANK BALANCE