General Data: 1. Sales are 25% cash, 75% on credit. 2. Of the credit sales, 80% are collected in the month following the month of sale and 20% in the second month following the sale. 3, Gross Profit margin on sales averages 25% i.e., the COGS is 75% of sales. 4. All inventory purchases are paid during the month in which they are made 5. The store follows the policy of purchasing enough inventory each month to cover the following month's sales at cost 6. A minimum cash balance of $5,000 is to be maintained by the store 7. A $15,000 dividend payment will be made in January 8. The cash balance as of July 31 is $10,400 9 Sales Budget August $14,000 November $38,000 September 26,000 December 48,000 October 22,000 January 18,000 February 16,000 10. Monthly Expenses