Jim Danlels Health Products has elght stores. The firm wants to expand by two more stores and needs a bank loan to do this. Mr. Hewitt, the banker, will finance construction if the firm can present an acceptable three-month financlal plan for January through March. Following are actual and forecasted sales figures: Of the firm's sales, 40 percent are for cash and the remaining 60 percent are on credit. Of credit sales, 30 percent are pald in the month after sale and 70 percent are paid in the second month after the sale. Materlals cost 30 percent of sales and are purchased and recelved each month in an amount sufficlent to cover the current month's expected sales. Materials are pald for in the month they are recelved. Labour expense is 50 percent of sales and is pald in the month of sales. Selling and administratlve expense is 6 percent of sales and is also paid in the month of sales. Overhead is $41,000 in cash per month; amortization expense is $11,700 per month. Taxes of $9,600 will be paid In January and dividends of $4,000 will be paid in March. Cash at the beginning of January is $114,000 and the minimum desired cash balance is $109,000. a. Prepare a schedule of monthly cash recelpts for January. February and March. b. Prepare a schedule of monthly cash payments for January. February and March. c. Prepare a schedule of monthly cash budget with borrowings and repayments for January. February and March. (Do not leave any empty spaces; input a 0 wherever it is required. Negative answers and amounts to be deducted should be indicated by a minus sign.)