ii. Cash Budget

The table below shows the necessary information for cash budget.

Month/Year	Sales	Purchases	Salaries&Wages	Operating Expenses
October 2022	80,000	60,000	25,000	50,000
November 2022	100,000	70,000	25,000	55,000
December 2022	120,000	90,000	25,000	45,000
January 2023	150,000	120,000	30,000	48,000
February 2023	180,000	130,000	32,000	57,000
March 2023	200,000	140,000	32,000	61,000
April 2023	225,000	100,000	32,000	65,000

Based on the information and assumptions below, prepare a cash budget for the first four months of 2023.

i. Cash balance as of 1 January 2023 is 60,000 OMR.

ii. 30 % of Sales are on cash basis, and the credit period for the remaining is 2 months.

iii. The company makes 30 % immediate cash payment for purchases, the balances are paid after 2 months.

iv. Salaries&wages are paid in the next month.

v. Operating expenses are paid after 2 months.

vi. The company must pay income tax at the end of March, the amount is 23,000 OMR.