Part|Instructions: 1. Use the company information below to create a forecast for a product company. 2. Enter your forecast in the Integrated Financial Model Excel spreadsheet. Company Information: - A small company employs four workers to run and operate its production process. - They work eight-hour days, twenty days per month. - Each employee produces 2 units per hour and is paid $6 per unit produced. - The owner decides to expand production and hires one additional worker in each of months 3 and 4 , and two additional workers in month 5. - The cost of materials is $5 per unit. - The owner's annual salary is $54,000 - SS tax is 7.65% (FICA \& Medicare), Unemp. is 0 , Other Benefits are 0.14. - The final product price is $50. - 40% of sales are on account. - Accounts receivable 40% collected in month of sale, 40% in month following, 10% in second month following and the rest in third month following. No allowance for bad debt expense. - Three-month supply of inventory will be kept. - Annual long-term loan interest rate is 4%. - Minimum cash (monthly) is $15,000. - Monthly rent for the building housing the manufacturing process is $2,000. - Utilities and maintenance for the manufacturing building are $500 per month. - The owner has $180 telephone and $370 transportation bills per month, respectively. Both expenses related to managing the company. - Legal and accounting fees are $1,000 and $1,500 per month respectively. - The owner hired a subcontractor, paid $24,000 annually to handle sales. - New equipment purchase in month 4, cost $90,000, with a depreciation period of 5 years. - A new office building is purchased in month 6,cost$150,000, with a depreciation period of 30 years. - 60% of monthly expenses are paid next month. - The owner borrowed $500,000 long-term loan. - Investment by owners is $35,000 in month 1