I need help with the attached Homework for Financial Management class. You guys solved part at all correct, however part B and C need more correction the red X are not correct please help me with that correction.

Harry's Carryout Stores has eight locations. The firm wishes to expand by two more stores and needs a bank loan to do this. Mr. Wilson, the banker, will finance construction if the firm can present an acceptable three-month financial plan for January through March. The following are actual and forecast sales figures: Actual Forecast Additional Information April forecast $360,000 November December $240,000 January $320,000 260,000 February 360,000 March 370,000 Of the firm's sales, 60 percent are for cash and the remaining 40 percent are on credit. Of credit sales, 30 percent are paid in the month after sale and 70 percent are paid in the second month after the sale. Materials cost 30 percent of sales and are purchased and received each month in an amount sufficient to cover the following month's expected sales. Materials are paid for in the month after they are received. Labor expense is 40 percent of sales and is paid for in the month of sales. Selling and administrative expense is 15 percent of sales and is paid in the month of sales. Overhead expense is $22,000 in cash per month. Depreciation expense is $10,200 per month. Taxes of $8,200 will be paid in January, and dividends of $3,000 will be paid in March. Cash at the beginning of January is $84,000, and the minimum desired cash balance is $79,000. a. Prepare a schedule of monthly cash receipts for January, February, and March. Harry's Carryout Stores Cash Receipts Schedule November December January February March Sales Credit sales Cash sales One month after sale Two months after sale Total cash receipts b. Prepare a schedule of monthly cash payments for January, February, and March. Harry's Carryout Stores Cash Payments Schedule January February March Payments for purchases Labor expense Selling and administrative Overhead Taxes Dividends Total cash payments c. Prepare a monthly cash budget with borrowings and repayments for January, February, and March. (Negative amounts should be indicated by a minus sign. Assume the January beginning loan balance is $0.) March Harry's Carryout Stores Cash Budget January February Total cash receipts Total cash payments Net cash flow Beginning cash balance Cumulative cash balance Monthly loan (or repayment) Ending cash balance Cumulative loan balance Harry's Carryout Stores Cash Payments Schedule January February $ 174,000 X $ 204,000 $ 128,000 144,000 48,000 54,000 22,000 22,000 8,200 Payments for purchases Labor expense Selling and administrative Overhead Taxes Dividends Total cash payments S March 219,000 148,000 55,500 22,000 3,000 447,500 $ 380,200 $ 424,000 $ c. Prepare a monthly cash budget with borrowings and repayments for January, February, and Marc be indicated by a minus sign. Assume the January beginning loan balance is $0.) Answer is complete but not entirely correct. Harry's Carryout Stores Cash Budget January February March Total cash receipts $ 290,400 $ 327,200 $ 354,800 Total cash payments 380,200 x 424,000 X 447,500 Net cash flow 670,600 751,200 802,300 Beginning cash balance 84,000 79,000 79,000 Cumulative cash balance 754,600 830,200 881,300 Monthly loan (or repayment) 84,800 X 96,800 X 92,700 X Ending cash balance 839,400 927,000 974,000 Cumulative loan balance 84,800 x 181,600 x 274,300 X a. Prepare a schedule of monthly cash receipts for January, February, and March. Answer is complete and correct. March Sales $ $ Credit sales Harry's Carryout Stores Cash Receipts Schedule November December January $ 240,000 $ 260,000 $ 320,000 96,000 104,000 128,000 192,000 31,200 67,200 $ 290,400 Cash sales February 360,000 144,000 216,000 38,400 72,800 327,200 370,000 148,000 222,000 43,200 89,600 354,800 One month after sale Two months after sale Total cash receipts