Gemilang Solar Sdn Bhd is trying to estimate its needs for funds during year 2022. All information needed is given below. a) Sales Actual Forecasted Jan: RM 28,000 June: RM 76,000 Feb: RM 31,500 July: RM 105,000 Mar: RM 47, 500 Aug: RM 125,000 Apr: RM 63, 500 Sept: RM110,000 May: RM 72,000 a) All sales are on credit: 70% collected in the first month, 20% in the second month, 8% in the third month and 2% become bad debt. b) Purchases of raw materials are 70% of each month's sales, 15% of which are paid in cash, 65% are paid one month later and the rest is paid two months after purchase. c) A quarterly dividend of RM12,000 will be received at the end of each quarter. d) Salaries are 40% of sales and is paid in the month incurred. e) Selling and administrative expenses are forecasted to be RM12,500 every month. f) Other expenses are RM10,000 each month. Annual depreciation expense is RM12,000. g) In June, the company expects to take loan of RM24,000 for an acquisition of a new machine will start in July and continue for the next three months. h) Tax repayment of RM10,000 are made at the beginning of each quarter. i) Cash balance on May 31, 2022 is RM30,000 and the minimum cash requirement is RM 8,000 and expected to increase by 10 percent each year. Questions: a) Prepare a cash budget for June July and August 2022. (40 marks) b) Comment on the company's cash budget. (5 marks) c) Based on your answer in (b), give recommendations to Gemilang Solar Sdn Bhd