NFT maintains a 8% line of credit for $1,000,000, and a minimum bank balance of $350,000. nterest is calculated and due on a monthly basis. NFT pays a cash dividend of $25,000 in September. NFT purchases $25,000 of equipment in September. On July 1, 2022 NFT had $50,000 in the bank. Beginning Cash Balance Add: Cash Collections Total Cash Available Less: Cash Disbursements Materials Direct Labour Manufacturing OH Selling & Administrative Dividend Total Disbursements Excess (deficiency) Financing: Borrowing Repayments nterest Total Financing Ending Cash Balance Sales Cost of Goods Sold Gross Margin Selling & Administrative Expense Operating Income nterest Expense Net Income Cash Budget July August September Quarter Part 11: (10 marks) udgeted Income Statement - September 30, 20 Quarter Endin Part 12: (2 Marks) NFT has land purchased at $250,000, Equipment of $180,000. Common Shares at $600,000 Retained Earnings $902,485.71 Current Assets Cash Accounts Receivable Raw Materials Inventory Finished Goods Inventory Total Current Assets Property & Equipment _and Equipment Total Property & Equipment Total Assets Accounts Payable Common Shares Retained Earnings Total Liabilities & Equity Budgeted Balance Sheet - September 30, 2022 Quarter Endir