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Data table More info Almost all of the sales revenues of the oxygen equipment are credit card sales; cash sales are negligible. The credit card company deposits 97% of the revenues recorded each day into OxygenMart's account overnight. For the servicing of home oxygen equipment, 65% of oxygen services billed each month is collected in the month of the service, and 35% is collected in the month following the service. 1. Calculate the cash that OxygenMart expects to collect in April, May and June 2021 from sales and service revenue. Show calculations for each month. 2. OxygenMart has budgeted expenditures for May of $13,500 and requires a minimum cash balance of $300 at the end of each month. It has a cash balance on May 1 of $300. a. Given your answer to requirement 1, will OxygenMart need to borrow cash to cover its payments for May and maintain a minimum cash balance of $300 at the end of May? b. Assume (independently for each situation) that (1) May total revenues might be 10% lower or that (2) total costs might be 5% higher. Under each of those two scenarios, show the total net cash for May and the amount OxygenMart would have to borrow to cover its cash payments for May and maintain a minimum cash balance of $300 at the end of May. (Again, assume a balance of $300 on May 1.) 3. Why do OxygenMart's managers prepare a cash budget in addition to the revenue, expenses, and operating income budget? Has preparing the cash budget been helpful? Explain briefly. (Clokk the ican to vine the torecast of sales and service revenue.) (C) (Cack the icon to view the coltection eftormation.) Read the Requirement 2a. OxyonlMart has budgeted expenditures for May of S13 foo and requires a miemum cash balance of 5300 at the end of each month it has a canh bakance on May 1 of 1300 Given your antwe to requirement 1, wil OxyeenlMart need to borrow cash to cover its payments for May and maintain a minimum cash balurno of 1300 at the end or May? The focal cash avalubie for May the budooted expenditures for the monthe therofore, OxypenMart be able to cover its paymenta for Moy and maintain a minimem caih taiarse of 500 at the and of May. Requirement 2b. Assume (independently for each shitation) that (1) May lotal revenuse might be 10% lower or that (2) fotal costs might be 5s higher. Under auch ot thoce two scanaice, ohow thi Retai nut cash for May and the amount OxyperMart would have to borrow to coner its cash paymenta for May and maintain a minimum cash balance of $300 at the end of Mep. (Agan, asame a balance of 5900 on May 1.) Fint calculate the cash excess or defieloncy for May using the orighal mumbers and under each scenario presented. On the next line, enter the amount of herrowing cecured (Enitar ai armeurts ta