Only fill in the yellow and gold cells. Cells in white should be left as is$.$ Very little hard$-$coding should be entered. Formulas and

cell referencing should be used whenever possible.

Problem:

a$.$ Last January there were $7,000$ sales at $$45$ each. This year the company expects to sell the same amount in January, and then increase sales by

$3\mathrm{.}5\%$ each month in the following year. The company typically has a $50/50$ ratio for credit and cash sales in any given month.

b$.$ Sales made on account are typically collected $30\%$ in the month of the sale and $70\%$ in the month following the sale.

c$.$ Budgeted COGS are expected to be $55\%$ of sales each month, and the company budgets for an ending inventory balance of $15\%$ of next month's

COGS. All inventory purchases are made on account.