Please provide the answer in Excel with reference to what formulas have been used.

Cash Budget (Receipts and Disbursements) Case Helen Bowers, owner of Helen's Fashion Designs, is planning to request a line of credit from her bank. She has estimated the following sales forecasts for her firm for parts of 2017: May 2017 June July August September October November December $180,000 180,000 360.000 540,000 720.000 360,000 360,000 90,000 Collection estimates obtained from the credit and collection department are as follows: collections within the month of sale = 10%, collections the month following the sale = 75%, collections the second month following the sale = 15%. Payments for labor and raw materials are typically made during the month following the one in which these costs have been incurred. Total labor and raw materials costs are estimated as follows: $90.000 May 2017 June July August September October November December 90.000 126.000 882.000 306,000 234.000 162,000 90.000 General and administrative salaries will amount to approximately $27,000 a month; lease payments under long-term lease contracts will be $9,000 a month; depreciation charges will be $36,000 a month; miscellaneous expenses will be $2,700 a month, income tax payments of $63,000 will be due in both September and December; and a progress payment of $180,000 on a new design studio must be paid in October. Cash on hand on July 1, will amount to $132,000, and a minimum cash balance of $90,000 will be maintained throughout the cash budget period. Please complete the following in an Excel Spreadsheet: 1) Prepare a monthly cash budget for the last 6 months of 2017 2) Prepare an estimate of the required financing (or excess funds) for each month during the period 3) If its customers began to pay late, this would slow down collections and thus increase the required loan amounts. Also if sales dropped offthis would have an effect on the required loan. Do a sensitivity analysis (each on a separate work page tab) that shows the effects of each of these two factors on the maximum loan requirements. (Please clearly state your assumptions on the sensitivity analysis - one suggestion would be to change the collections pattern so that the collections in the month after sale in dropped by 5% and the collections two months after sale increased by 5% for each of the sensitivity runs. A suggestion for the change in sales would be drop the sales level by 5% in each of the sensitivity runs. Please answer the following additional questions (you can just answer these on the worksheet - no need to turn in a separate Word file): 4) Assume that receipts from sales come in uniformly during the month (that is cash receipts come in at the rate of 1/30 each day), but all outflows are paid on the 5th of the month. Will this have an effect on the cash budget in other words, would the cash budget you have prepared be valid under these assumptions? If not, what can be done to make a valid estimate of the peak financing requirements? No calculations or spreadsheet work is required, though calculations could be used to illustrate the effects. 5) Bowers produces on a seasonal basis, just ahead of sales. Without making any additional calculations, discuss how the company's current ratio and debt ratio would vary during the year assuming all financing requirements were met by short-term bank loans. Could changes in these ratios affect the firm's ability to obtain bank credit