Please prepare the following budgets:

1.Cash receipt budget

2.Production budget

3.Purchase budget

4.Cash Payment budget

5.Cash budget

David's Carryout Stores has twelve locations. The firm wishes to expand by three more stores and needs a bank loan to do this. Ms. Sullivan, the banker, will finance construction if the firm can present an acceptable three-month financial plan for January through March. The following are actual and forecasted sales figures:

Actual	Forecast	additional Info
November $250,000	january $290,000	April Forecast $390,000
December $260,000	Feburary $350,000
	March $380,000

Of the firm's sales, 30 percent are for cash and the remaining 70 percent are on credit. Of credit sales, 40 percent are paid in the month after sale and 60 percent are paid in the second month after the sale. Materials cost 20 percent of sales and are purchased and received each month in an amount sufficient to cover the tollowing month's expected sales. Materials are paid for in the month after thev are received. Labor expense is 30 percent of sales and is paid for in the month of sales. Selling and administrative expense is 8 percent of sales and is also paid in the month of sales. Overhead expense is $18,000 in cash per month.

Depreciation expense is $12,000 per month. Taxes of $6,000 will be paid in January, and dividends of $2,800 will be paid in March. Cash at the beginning of January is $30,000, and the minimum desired cash balance is $25.000. For January, February, and March, prepare a schedule of monthly cash receipts, monthly . cash payments, and a complete monthly cash budget with borrowings and repayments.