help with a and b

(Cash budgef) The Sharpe Corporation's projected sales for the first 8 months of 2019 are shown in the following table: Of Sharpe's sales, 10 percent is for cash, another 40 percent is collected in the month following the sales, and 50 percent is collected in the second month following sales. November and December sales for 2018 were $270,000 and $225,000, respectively. Sharpe purchases its raw materials. 2 months in advance of its sales. The purchases are equal to 55 percent of the final sales price of Sharpe's products. The supplie is paid 1 month atter it makes a delivery. For example, purchases for April sales are made in February, and payment is made in March. In addition, Sharpe pays $10,000 per month for rent and $17,000 each month for other oxpenditures. Tax prepayments of $21,000 are made each quarter, beginning i March. The company's cash balance on December 31,2018, was $22,000. This is the minimum balance the firm wants to maintain, Any borrewing that is needed to maintain this minimum is paid off in the subsequent month if there is sufficient cash, Interest on short-term loans (12 percent) is paid monthly. Borrowing to meet ostimated monthiy cash noeds takes place at the beginning of the month. Thus, if in the month of April the firm oxpects to have a need for an additional $60, 500 , these funds. would be borrowed at the beginning of Aptl with interest of $605(0.121/12$60,500) owed for Apnil and paid at the beginning of May. a. Piepare a cast budget for Sharpe covering the first 7 months of 2019. b. Stuarpe has $200,000 in notes payable due in July that must be repaid or renegotiated for an extension. Will the firm have amplo cash to repay the notes? a. Prepare a cash budget for Sharpe covering the first 7 months of 2019. Fill in the Collections for the month of January: (Round to the nearest dollar.) Data table (Click on the following icon D in order to copy its contents into a spreadsheet.)