Hammer Inc. Company is a merchandising company that sells a single product. The company's sales in units for Quarter 3 of 2021 were as July August September Sales 70,000 61,000 62,000 They predict that Sales will increase by 4% in 2022. Units are sold for $11.50 each. One fourth of all sales are paid for in the month of sale and the balance are paid for in the following month. Accounts receivable at 30 June 2022 is predicted to total $450,000. Merchandise is purchased for $6 per unit. No beginning or ending inventories are kept. Half of the purchases are paid for in the month of the purchase and the remainder are paid for in the month following purchase. Accounts payable at 30 June 2022 is predicted to be $290,000. Selling and administrative expenses are expected to total $105,000 each month. And it includes 15,000 of Depreciation related to their cars. Overhead is 150,000 per quarter and it includes 30,000 of Depreciation. It is spread evenly throughout the months. Labor is 100,000 per month paid cash each month. They plan to take a loan on August 1st 2022 for $50,000, interest of 9%, which is paid every month. Cash at 30 June 2022 is predicted to total $50,000. A payment of $200,000 for purchase of equipment is scheduled for August, and a dividend of $100,000 is to be paid in September 2022. 55 10 Points Required: a. Prepare a cash budget for Hammer Inc. for the months July, August and September 2022. b. Give your recommendations to Hammer Inc. regarding their cash situation (be very specific using actual numbers and relevant recommendations only for ther Questions not related to the information above: c. What is the difference between cash and profit (give some examples in order to answer the question)? d. Which is the first budget that we start with, and which is the most important budget, in a master-budget? 10 10 Solve here