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Precision Machines is preparing a financial plan for the next six months to determine the financial needs of the company. 30% cash sales and 70% credit sales. Further analysis of credit sales shows that the company receives 50% of the credit sale sale. This means the cash collections from sales are 30% in the first month of the sale, 35% in the second month, and 35% in The materials purchased by the company amounts to 50% of the sales for the month. The company pays for the purchases o $5,000. The cost of borrowing is 10%. The company plans to pay off the loan whenever there is a surplus and borrow when th The attached spreadsheet shows revenues (sales), expenses, capital expenditures, and other expenses for Precision Machine budget for January through June and determine the cash surplus, deficit, and the financing needs of the company. Precision Machines Student Note: Fill in the light yellow cells Data: Annual Cost of borrowing Minimum Cash Balance Beginning Cash Balance Revenues (Sales) Cash Collections First Month (30%) Second Month (35%) Third Month (35%) Total Collections Cash Disbursements Material Purchases Salaries Wages Other Expenses Capital Expenditure Dividends Interest Total Disbursements Cash flows Net cash flows Cumulative cash flows Minimum Cash Balance Cash Surplus or (Deficit) Recommendations: November December January February $40,000.00 $50,000.00 $48,000.00 $55,000.00 November December January February 6,000.00 3,000.00 6,000.00 3,500.00 10.00% $5,000.00 $7,500.00 The historical analysis of the company's sales shows that the company's total sales are ceives 50% of the credit sales one month after the sale and the remaining 50% in the second month after the second month, and 35% in the third month. ny pays for the purchases one month after the initial purchase. The company likes to maintain a cash balance of surplus and borrow when there is a deficit. enses for Precision Machines' next six months. Using the information given on the spreadsheet, prepare a cash of the company. March April May June $35,000.00 $50,000.00 $65,000.00 $40,000.00 March April May June 6,000.00 3,000.00 6,000.00 3,200.00 6,000.00 3,500.00 6,000.00 3,000.00 45,000.00 1,000.00 1,000.00 Student Note: Fill in the light yellow cells Data: Annual Cost of borrowing Minimum Cash Balance Beginning Cash Balance Revenues (Sales) Cash Collections First Month (30%) Second Month (35%) Second Month (35%) Third Month (35%) Third Month (35%) Total Collections Cash Disbursements Material Purchases Salaries Wages Other Expenses Capital Expenditure Dividends Interest Total Disbursements Cash flows Net cash flows Cumulative cash flows Minimum Cash Balance Cash Surplus or (Deficit) Recommendations: Fill in the light yellow cells November December January February March $40,000.00 $50,000.00 $48,000.00 $55,000.00 $35,000.00 November $12,000.00 December $15,000.00 =40000*35% 14,000.00 January $14,400.00 =50000*35% 17,500.00 =35%*40000 14,000.00 $45,900.00 February $16,500.00 =48000*35% 16,800.00 =35%*50000 17,500.00 $50,800.00 March $10,500.00 =55000*35% 19,250.00 =35%*48000 16,800.00 $46,550.00 $20,000.00 $25,000.00 6,000.00 3,000.00 $24,000.00 6,000.00 3,500.00 $27,500.00 6,000.00 3,000.00 10.00% $5,000.00 $7,500.00 45,000.00 1,000.00 $34,000.00 $33,500.00 $82,500.00 $11,900.00 $11,900.00 $5,000.00 $6,900.00 $17,300.00 $29,200.00 $5,000.00 $12,300.00 ($35,950.00) ($6,750.00) $5,000.00 ($40,950.00) April May June $50,000.00 $65,000.00 $40,000.00 April $15,000.00 =35000*35% 12,250.00 =35%*55000 19,250.00 $46,500.00 May $19,500.00 =50000*35% 17,500.00 =35%*35000 12,250.00 $49,250.00 June $12,000.00 =65000*35% 22,750.00 =35%*50000 17,500.00 $52,250.00 $17,500.00 6,000.00 3,200.00 $25,000.00 6,000.00 3,500.00 $32,500.00 6,000.00 3,000.00 1,000.00 4,095.00 $30,795.00 $34,500.00 $42,500.00 $15,705.00 $8,955.00 $5,000.00 $10,705.00 $14,750.00 $23,705.00 $5,000.00 $9,750.00 $9,750.00 $33,455.00 $5,000.00 $4,750.00