Loblaw Manufacturing has asked you to create a cash budget in order to determine its borrowing needs for

the June to October period. You have gathered the following information:

April and May sales were $$186875$ and $$219375,$ respectively. The firm collects $15\%$ of its sales during the month, $75\%$ the

following month, and $10\%$ two months after the sale. Each month it purchases inventory equal to $55\%$ of the next month's

expected sales. The company pays for $40\%$ of its inventory purchases in the same month and $60\%$ in the following month.

Howefver, the firm's suppliers give it a $2\%$ discount if it pays during the same month as the purchase. A minimum cash

balance of $$25,000$ must be maintained each month, and the firm pays $4\%$ annually for short$-$term borrowing from its bank.Loblaw Manufacturing

Cash Budget

June $2017$ to October $2017$

Please show how to do each line in an excel formula. Thank you!