pleaseASAP

SAY Jim Daniels Health Products has eight stores. The firm wants to expand by two more stores and needs a bank loan to do this M. Hewitt, the banker, will finance construction of the firm can present an acceptable three month financial plan for January through March. Following are actual and forecasted sales figures Actual Torecast Additional Information November $540,000 January 5620,10 April forecast 5670,000 December 560,000 February 660.00 March 680.0 Or the firm's sales, 40 percent are for cash and the remaining 60 percent are on credit. Of credit sales, 30 percent are paid in the month after sale and 70 percent are paid in the second month after the sale Materials cost 30 percent of sales and are purchased and received each month in an amount sufficient to cover the current month's expected sales Materials are paid for in the mooth they are received. Labour expense is 50 percent of sales and is paid in the month of sales Selling and administrative expenses 6 percent of sales and is also paid in the month of sales Overhead is $41.000 in cash per month, amortization expense is $11.700 per month Taxes of $9,600 will be paid in January and dividends of S4000 will be paid in March Cash at the beginning of January $114.000 and the minimum desired cash balance is $109,000 a: Prepare a schedule of monthly cash receipts for January, February and March in Daniels Health Products Cash Receipts Schedule November December Januar February March Sales $ 5 Credit sales Cash sales Collections in the month after credit sales Collections two months after credit sales Total cash receipts April b. Prepare a schedule of monthly cash payments for January February and March February Harch i Daniels Health Products Cash Payments Schedule Fanuary Payments for purchases 5 Labour expense Selling and administrative expense