Kholson Ltd. Budgeted Profit and Loss Acocunt For the Period Ending January, February and March 2021 Month January February March $000 $000 $000 Sales (all on credit) 2,000 3,000 2,500 Cost of goods sold (COGS) 1,200 1,800 1,500 Gross Profit 800 1,200 1,000 Depreciation (100) (100) (100) Other expenses (450) (500) (600) Net profit 250 600 300 2. Kholson Ltd. Budgeted Balance Sheet For the Periods Ended December, January, February and March 2021 Budgeted Balances December January February $000 $000 $000 March $000 Current assets: Stocks 100 120 150 Debtors 200 300 350 Short-term investments 60 40 3850 150 400 Current liabilities: Trade creditors 110 180 160 150 Other creditors 50 50 50 50 Taxation 150 Dividends 200 es New 14 AA All As st2ax, x APA- Acetate A Baceae, 1 E Normat No Seating Heading 1 Styles Pane Dictate Budgeted Balances December January February March $000 $000 $000 $000 Current assets: Stocks 100 120 150 150 Debtors 200 300 350 400 Short-term investments 60 40 30 Current liabilities: Trade creditors 110 180 160 150 Other creditors 50 50 50 50 Taxation Dividends 150 200 Additional Information: 3. Capital expenditure to be incurred on 22 February 2021 is expected to amount to $470,000. 4. Sales of plant and equipment on 13 March 2021 is expected to raise to $30,000 in cash. 5. The cash at bank in hand on January 1, 2021 is expected to be $15,000. 16 Required: Prepare Kholson Ltd.'s cash budget for each of the three months during the quarter ending 31 March 2021. I Note: Total mark of this task is 50 prints will be converted into 25% for the coursework Question 1 Prepare Kholson Ltd.'s cash budget for each of the three months during the quarter ending 31 March 2021. YOUR ANSWER HERE