II, You are presented with the budgeted data shown in Sydney Ltd company for the period November 2017 to 2018 by your firm.It has been extracted from the other functional budgets that have been prepared. You are also told the following: (a) The opening cash balance is 15,000 (b) Sales are 40% cash,60% credit. Credit sales are paid two months after the month of sale (c) Purchases are paid the month following purchase (d) 75% of wages are paid in the current month and 25% the following month. (e) Overheads are paid the month after they are incurred (f) Dividends are paid three months after they are declared. (g) Capital expenditure is paid two month after it is incurred The managing director is pleased with the above fig have increased by more than 100% in the period under review. In order to achieve this he has arranged a bank overdraft with a ceiling of 50,000 to accommodate the increased stock levels and wage b for overtime worked ures as the show sales will Sydney Lted Nve17 Dec17 Jan18 Feb18 Mar18 Apr18 May 18 Sales80,000 100,000 110,000 130,000 140,000 150,000 160,000 Purchases 40,000 60,000 80,000 90,000 110,000 130,000 140,000 Wages Overheads 10,000 10,000 15,000 15,000 15,000 20,000 20,000 Dividends Expenditure 10,000 12,000 16,000 20,000 24,000 28,000 32,000 20,000 30,000 40,000 Required 1. Prepare a cash budget for the 6 month period January to June 2018. 2. Comment upon your results in the light of your managing director's comments and offer advice