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NEED HELP! Question 1 - Budgeting S pts Milano Interior Ltd is a small business that sell designer homewares. It has two stores in Auckland.

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Question 1 - Budgeting S pts Milano Interior Ltd is a small business that sell designer homewares. It has two stores in Auckland. The owner, Estella, has partially completed the cash budget for the fourth quarter of 2021 Milano Interior Ltd - Cash Budget for the fourth quarter 2021 October $39,000 November December Quarter $48,000 $55,000 -$49,700 -$13,650 $11,000 -$19,250 $11,000 -$11,000 -$33,000 -$10,000 -$10,000 -$10,000 -$30,000 Cash receipts from Sales Less Cash payments: Cash pay for inventory purchase Cash pay for salary Cash pay for selling & admin expenses Cash payment for sales commission Cash payment for a store refurbishment Total Payments =Net cash from operations Add: Beginning Cash balance =Ending cash balance $1,950 -$2,400 -$2,750 $7,100 -$15,000 -$15,000 -$51,600 $12,600 $7,200 -$43,000 $12,000 $200 $12,200 -$7,600 $200 $7,600 $12,200 Required: a) Complete the incomplete budget above by working out the following amounts: Beginning cash balance for October; Cash pay for inventory purchase for November; Total payments and Net cash from operations in November; Total cash receipts from sales, Total payments and Beginning cash balance for the Quarter (6 marks) b) Estella foresees a cash flow problem in the fourth quarter. Explain two ways the business can address the problem. (2 marks) Total for this question: 8 marks

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