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Exam Corporation has the following information avallable: Review keeps no inventory of work in process or finishod goods. Calculate the following amounts: Exam Corp has the following information relating to their annual cash budget: Collections - 60% of sales are expected to be cash sales - 25% of sales are expected to be credit sales and collected in the month after sale - 15% of sales are expected to be credit sales and collected in the second month after sale Payments 40% of selling and administrative expenses are expected to be paid in the month of the expense - 60% of selling and administrative expenses are expected to be paid in the month after the expense The cash balance on January 1 is $40,000 Required Complete the following chart by calculating cash collections, cash payments and the ending cash balance for January, February and March. Payments - 40% of selling and administrative expenses are expected to be paid in the month of the expense - 60% of selling and administrative expenses are expected to be paid in the month after the expense The cash balance on January 1 is $40,000 Reguired Complete the following chart by calculating cash collections, cash payments and the ending cash balance for January, Eebruary and March