If possible, show Excel calculations of each step, please. Thank you!

This assignment will require you to prepare the cash budget and determine the cash surplus and shortage each month. The management estimates total sales for the period January through June based on actual sales from the immediate past six months. The following assumptions are made Historical Sales Forecasted Sales 2017 $100,000 $125,000 $105,000 $155,000 60,000 70,000 $110,000 February, 2017 90,000 120,000 August, 2016 ber, 2016 October, 2016 November, 2016 December, 2016 March, 2017 April, 2017 May, 2017 70,000 60,000 017 a. 50% of the Sales are collected immediately, 30% of the Sales will be collected one month after the sale, 10% will be collected two months after the sale. 6% will be collected three months after the sale. The remainder will be collected four months after the sale. Bad debts are insignificant. b. Purchases were $50,000 in July, 2016 and are expected to grow by 2% each month. The purchases will be paid in the same month. c. Wages and salaries of $30,000 will be paid each month. d. Depreciation expenses are $20,000 each month e. Rent of $15,000 will be paid at the end of each calendar quarter f. Machinery worth $150,000 will be purchased in March. ary to June. Determine the cash surplus and Prepare the cash budget from Janu shortages for each month from January to June. Providey ou r analysis