**Prepare cash budgets for the Topeka Corp for 20x1-20x3 using the adjusted net income approach

Managers at the Topeka Corporation have just completed a long-range operations budget for 20X1-20X3. They are interested in their ability to buy fixed assets in 20X2 and 20X3 from cash generated by the business. They need tentative cash budgets for 20X1-20X3 to evaluate the situation. The following information is available: *The income tax expense is recorded on the books only. The amount paid each year is as follows