Please show all work!!!

.Creed Company has accumulated the following budget information for the first two months of the coming year: Sales. Manufacturing costs Selling and administrative expenses Capital additions June $526,000 315,000 35,400 July $470,000 405,000 200,000 36,400 The company expects to sell about 25% of its merchandise for cash. Of sales on account, 80% are expected to be collected in full in the month of the sale and the remainder in the month following the sale. two-fifths of the manufacturing costs are expected to be paid in the month in which they are incurred and the other three-fifths in the following month. Depreciation, insurance, and property taxes represent $4,600 of the probable monthly selling and administrative expenses. Insurance is paid in May and a $25,000 installment on income taxes is expected to be paid in July. Of the remainder of the selling and administrative expenses, one-half are expected to be paid in the month in which they are incurred and the balance in the following month. Capital additions of $200,000 are expected to be paid in June. Current assets as of June 1 are composed of cash of $54,000 and accounts receivable of $48,000. Current liabilities as of June 1 are composed of accounts payable of $101,500 ($78,000 for materials purchases and $23,500 for operating expenses). Management desires to maintain a minimum cash balance of $75,000. Prepare a monthly cash budget for June and July