Please prepare in Excel and show work in detail.

Preparation of cash budget. Personal finance problemSam and Suzy Sizeman need to prepare a cash budget for the last quarter of 2016 in order to make sure they can cover their expenditures during the period. Sam and Suzy have been preparing budgets for the past several years and have been able to establish specific percentages for most of their cash outflows. These percentages are based on their take-home pay (that is., monthly utilities normally run 4.6% of monthly take-home pay).

a. Prepare a quarterly cash budget for Sam and Suzy covering the months October through December 2016.

b. Are there individual months that incur a deficit?

c. What is the cumulative cash surplus or deficit by the end of December 2016?

Income
Monthly take-home pay	$4,901
Expenses
Housing	29.7%
Utilities	4.6%
Food	10.4%
Transportation	6.6%
Medical/dental	0.5%
Clothing for October & November	2.7%
Clothing for December	$443
Property taxes (November only)	11.2%
Appliances	1.4%
Personal Care	1.8%
Entertainment for October & November	5.5%
Entertainment for December	$1,534
Savings	7.7%
Other	5.3%
Excess in cash	4.9%