From the following forecast of income and expenditure prepare a Cash Budget for the three months ending on May, 20X8 Month Sales Purchase Wages Misc. Jan 'X8 2,20,000 1,34,000 30,000 17,000 Feb 'X8 2,30,000 1,50,000 32,000 18,000 Mar 'X8 1,80,000 1,54,000 28,000 16,000 Apr 'X8 2,16,000 1,56,000 30,000 22,000 May 'X8 1,88,000 1,30,000 28,000 16,000 Additional Information: (i) Sales: 30% realized in the month of sales, discount allowed 2%, balance realized equally in two subsequent months. (ii) Purchases: These are paid in the month following the month of supply (iii) Wages: 30% paid in arrears following month (iv) Misc. Expenses: Paid a month in arrears (v) Rent. 2000 per month paid quarterly in advance due, in March (vi) Income Tax: First Instalment of advance tax, *30,000 due on or before 15th May to be paid within the month (vii) Income from Investment. *15,000 received quarterly in March, June etc., (viii) Cash in hand, *25,000 in March 1, 20X8