Helen Bowers, owner of Helen's Fashion Designs, is planning to request a line of credit from her bank. She has estimated the following sales forecasts for her firm for parts of 2017 $180,000 180,000 360,000 540,000 720,000 360,000 360,000 90,000 May 2017 June Jul ul tember October November December Collection estimates obtained from the credit and collection department are as follows: collections within the month of sale 1090, collections the month following the sale- 75%, collections the second month following the sale: 15%. Payments for labor and raw materials are typically made during the month following the one in which these costs have been incurred. Total labor and raw materials costs are estimated as follows: S90,000 90,000 126,000 882,000 306,000 234,000 162,000 90,000 May 2017 June July August tember October November December General and administrative salaries will amount to approximately $27,000 a month; lease payments under long-term lease contracts will be $9,000 a month; depreciation charges will be S36,000 a month; miscellaneous expenses will be $2,700 a month; income tax payments of S63,000 will be due in both September and December; and a progress payment of $180,000 on a new design studio must be paid in October. Cash on hand on July 1, will amount to $132,000, and a minimum cash balance of $90,000 will be maintained throughout the cash budget period