Hi - I need you to check my work for assignment, " Precision Machines Part 2" for Finance 370 class. I attached the first spreadsheet that work was completed. I attached the solution on word. I attached a "NEW' spreadsheet that is empty. Yellow fields are what needs calculations on. Any incorrect numbers, I need you to add the new spreadsheet and show solution on the excel sheet in a new tab please.

Precision Machines Student Note: Fill in the light yellow cells Data: Annual Cost of borrowing Minimum Cash Balance Beginning Cash Balance Revenues (Sales) Cash Collections First Month (30%) Second Month (35%) Third Month (35%) Total Collections Cash Disbursements Material Purchases Salaries Wages Other Expenses Capital Expenditure Dividends Interest Total Disbursements Cash flows Net cash flows Cumulative cash flows Minimum Cash Balance Cash Surplus or (Deficit) Recommendations: November December January February $40,000.00 $50,000.00 $48,000.00 $55,000.00 November $12,000.00 December $15,000.00 12,250.00 January $14,400.00 11,760.00 8,694.00 $34,854.00 February $16,500.00 13,475.00 8,758.75 $38,733.75 $25,000.00 $24,000.00 6,000.00 3,000.00 $27,500.00 6,000.00 3,500.00 $33,000.00 $37,000.00 $1,854.00 $9,354.00 $5,000.00 $4,354.00 $1,733.75 $11,087.75 $5,000.00 $6,087.75 10.00% $5,000.00 $7,500.00 March April May June $35,000.00 $50,000.00 $65,000.00 $40,000.00 March $10,500.00 8,575.00 5,573.75 $24,648.75 April $15,000.00 12,250.00 7,962.50 $35,212.50 May $19,500.00 15,925.00 10,351.25 $45,776.25 June $12,000.00 9,800.00 6,370.00 $28,170.00 $17,500.00 6,000.00 3,000.00 $25,000.00 6,000.00 3,200.00 $32,500.00 6,000.00 3,500.00 $20,000.00 6,000.00 3,000.00 45,000.00 1,000.00 1,000.00 $72,500.00 4,500.00 $67,500.00 $42,000.00 $30,000.00 ($47,851.25) ($36,763.50) $5,000.00 ($41,763.50) ($32,287.50) ($69,051.00) $5,000.00 ($74,051.00) $3,776.25 ($65,274.75) $5,000.00 ($70,274.75) ($1,830.00) ($67,104.75) $5,000.00 ($72,104.75) Corrections here and show solution for problem Precision Machines Student Note: Fill in the light yellow cells Data: Annual Cost of borrowing Minimum Cash Balance Beginning Cash Balance Revenues (Sales) Cash Collections First Month (30%) Second Month (35%) Third Month (35%) Total Collections Cash Disbursements Material Purchases Salaries Wages Other Expenses Capital Expenditure Dividends Interest Total Disbursements Cash flows Net cash flows Cumulative cash flows Minimum Cash Balance Cash Surplus or (Deficit) Recommendations: November December January February $40,000.00 $50,000.00 $48,000.00 $55,000.00 November December January February 6,000.00 3,000.00 6,000.00 3,500.00 10.00% $5,000.00 $7,500.00 March April May June $35,000.00 $50,000.00 $65,000.00 $40,000.00 March April May June 6,000.00 3,000.00 6,000.00 3,200.00 6,000.00 3,500.00 6,000.00 3,000.00 45,000.00 1,000.00 1,000.00 Cash collections 1st month = 30% of revenues 2nd and 3rd month = 35% of revenues - previous collected November 1st month = 30% of 40,000 = 12,000 December 1st month = 30% of 50,000 =15,000 2nd month = 35% of 50,000 - 15,000 = 35,000 =12,250 January 1st month = 30% of 48,000 = 14,400 2nd month = 35% of 48,000 - 14,400 = 33,600 = 11,760 3rd month = 35% of 36,600 - 11,760 = 24,840 = 8,694 Total = 14,400 + 11,760 + 8,640 = 34,854 February 1st month = 30% of 55,000 = 16,500 2nd month = 35% of 55,000 - 16,500 = 38,500 = 13,475 3rd month = 35% of 38,500 - 13,475 = 25,025 = 8,758.75 Total = 16,500 + 13,475 + 8,758.75 = 38,733.75 March 1st month = 30% of 35,000 = 10,500 2nd month = 35% of 35,000 - 10,500 = 24,500 = 8,575 3rd month = 35% of 24,500 - 8,575 = 15,925 = 5,573.75 Total = 10,500 + 8,575 + 5,573.75 = 24,648.75 April 1st month = 30% of 50,000 =15,000 2nd month = 35% of 50,000-15,000 = 35,000 = 12,250 3rd month = 35% of 35,000 - 12,250 = 22,750 = 7,962.50 Total = 15,000 + 12,250 + 7,962.50 = 35,212.50 May 1st month = 30% of 65,000 =19,500 2nd month = 35% of 65,000 - 19,500 = 45,500 = 15,925 3rd month = 35% of 45,500 - 15,925 = 29,575 = 10,351.25 Total = 19,500 + 15,925 + 10,351.25 = 45,776.25 June 1st month = 30% of 40,000 = 12,000 2nd month = 35% of 40,000 - 12,000 = 28,000 = 9,800 3rd month = 35% of 28,000 - 9,800 = 18,200 = 6,370 Total = 12,000 +9,800 + 6,370 = 28,170 Materials Purchased = 50% of sales for month December = 50% of 50,000 = 25,000 January = 50% of 48,000 = 24,000 February = 50% of 55,000 = 27,500 March = 50% of 35,000 = 17,500 April = 50% of 50,000 = 25,000 May = 50% of 65,000 = 32,500 June = 50% of 40,000 = 20,000 Interest = 10% of capital expenditure April = 10% of 45,000 = 4,500 Total Disbursements January = 24,000 + 6,000 +3,000 = 33,000 February = 27,500 + 6,000 +3,500 = 37,000 March = 17,500 + 6,000 + 3,000 + 45,000 + 1,000 = 72,500 April = 25,000 + 6,000 +32,000 + 4,500 = 67,500 May = 32,500 + 6,000 + 3,500 = 42,000 June = 20,000 + 6,000 +3,000 +1,000 = 30,000 Net cash flows = total collections - total disbursements January = 34,854 - 33,000 =1,854 February = 38,733.75 - 37,000 = 1,733.75 March = 24,648.75 - 72,500 = (47,851.25) April = 35,212.50 - 67,500 = (32,287.50) May = 45,776.25 - 42,000 = 37,776.25 June = 28,170 - 30,000 = (1,830) Cumulative cash flow = previous net cash flow + this month cash flows January = 7,500 + 1,854 = 9,354 February = 9,354 + 1,733.75 = 11,087.75 March = 11,087.75 - 47,851.25 = (36,763.50) April = -36,763.50 - 32,287.50 = (69,051) May = -69,051 + 3,776.25 = (65,274.75) June = -65,274.75 -1,830 = (67,104.75) Surplus or deficit = cumulative cash flow - minimum cash balance January = 9,354 - 5,000 = 4,354 February = 11,087.75 - 5,000 = 6,087.75 March = 36,763.50 - 5,000 = (41,763.50) April = -69,051 - 5,000 = (74,051) May = -65,274.75 - 5,000 = (70,274.75) June = -67,104.72 - 5,000 = (72,104.75) Precision Machines Team Assignment FIN/370 Version 10 University of Phoenix Material Precision Machines Read the following case study: Precision Machines is preparing a financial plan for the next six months to determine the financial needs of the company. The historical analysis of the company's sales shows that the company's total sales are 30% cash sales and 70% credit sales. Further analysis of credit sales shows that the company receives 50% of the credit sales one month after the sale and the remaining 50% in the second month after the sale. This means the cash collections from sales are 30% in the first month of the sale, 35% in the second month, and 35% in the third month. The materials purchased by the company amounts to 50% of the sales for the month. The company pays for the purchases one month after the initial purchase. The company likes to maintain a cash balance of $5,000. The cost of borrowing is 10%. The company plans to pay off the loan whenever there is a surplus and borrow when there is a deficit. The attached spreadsheet shows revenues (sales), expenses, capital expenditures, and other expenses for Precision Machines' next six months. Using the information given on the spreadsheet, prepare a cash budget for January through June and determine the cash surplus, deficit, and the financing needs of the company. Copyright XXXX by University of Phoenix. All rights reserved. 1 Precision Machines Team Assignment FIN/370 Version 10 University of Phoenix Material Precision Machines Read the following case study: Precision Machines is preparing a financial plan for the next six months to determine the financial needs of the company. The historical analysis of the company's sales shows that the company's total sales are 30% cash sales and 70% credit sales. Further analysis of credit sales shows that the company receives 50% of the credit sales one month after the sale and the remaining 50% in the second month after the sale. This means the cash collections from sales are 30% in the first month of the sale, 35% in the second month, and 35% in the third month. The materials purchased by the company amounts to 50% of the sales for the month. The company pays for the purchases one month after the initial purchase. The company likes to maintain a cash balance of $5,000. The cost of borrowing is 10%. The company plans to pay off the loan whenever there is a surplus and borrow when there is a deficit. The attached spreadsheet shows revenues (sales), expenses, capital expenditures, and other expenses for Precision Machines' next six months. Using the information given on the spreadsheet, prepare a cash budget for January through June and determine the cash surplus, deficit, and the financing needs of the company. Copyright XXXX by University of Phoenix. All rights reserved. 1