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please I need steps on how to follow your solution. Thanks Given the following information for Jawa Corp. prepare a full cash budget for the

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please I need steps on how to follow your solution. Thanks

Given the following information for Jawa Corp. prepare a full cash budget for the months of April, May. and June. Feb Mar Apr May June July Sales in Units 10,000 12,000 15,100 16,250 16,675 16,000 All units are sold at a price of $24.75, with a per unit cost of $13.50. Sales are collected as follows: 60% month of sale, 30% month after sale and remainder 2 month after sale. Purchases of materials, which account for 50% of the product cost (remainder of the product cost is Factory worker wages) are paid for 75% month of purchase and 25% month after purchase. Materials are purchased a month in advance. In addition, the following are paid monthly: Building Lease $21,750, Office salaries $10,500, Management Salaries $20,000, Trash removal $1,500, Utilities based on a rate of 20 cents per unit, Payroll taxes at the rate of 7.65% (paid on all wages), Equipment maintenance based on a rate of 35 cents per unit. The company will also be making the following payments: May Insurance payment for the months of May-July $15,000, in April income tax deposit of $30.000, the company will declare a quarterly dividend in May to be paid June 15th of $25,000, Employee first aid training at a cost of $2,500 is planned for July Depreciation is $21,265 per month based on straight line and income taxes are based on an average effective tax rate of 11.50%. At the start of April, the company had a cash balance of $35,450. Requirement #2 Based on the previous information prepare a traditional income statement (in proper format) for the month of June. Requirement #3 The company likes to maintain a cash balance of $30,000 at all times. They are considering purchasing new machinery at the beginning of July at a cost of $175,000. Do they have a sufficient amount of cash on hand to make this purchase or would they need to make arrangements for any financing? Requirement #4 Given that the company has the following dividend policy: Dividends are paid quarterly based on the annual rate of $2.00 per share. How many shares of stock are currently outstanding

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