PrimeTime Sportswear is a custom Imprinter that began operations six months ago. Sales have exceeded management's most optimistic projections. Sales are made on account and collected as follows: 50% In the month after the sale is made and 45% in the second month after sale. Merchandise purchases and operating expenses are paid as follows: In the month during which the merchandise is purchased or the cost is incurred In the subsequent month 73% 27% PrimeTime Sportswear's Income statement budget for each of the next four months, newly revised to reflect the success of the firm, follows: September $ 42,400 October $ 54,000 November $ 67,7ee December $ 58,988 Sales Cost of goods sold: Beginning inventory Purchases Cost of goods available for sale Less! Ending inventory Cost of goods sold Gross profit Operating expenses Operating income $ 6,350 38,600 $ 44,950 (14,950) $ 39, eee $ 12,400 10,980 $ 1,500 $ 14,950 44,400 $ 59, 350 (20,360) $ 38,990 $ 15,810 12,980 $ 2,119 $ 20,360 49,200 $ 69,560 (21,920) $ 47,640 $ 20,060 14,100 $ 5,960 $ 21,920 33,388 $ 55, 220 (19,820) $ 35,488 $ 23,500 15,90e $ 7,6ee Cash on hand August 31 is estimated to be $39.900. Collections of August 31 accounts receivable were estimated to be $17,320 In September and $14.760 in October. Payments of August 31 accounts payable and accrued expenses in September were estimated to be $24,320. Required: 0-1. Prepare a cash budget for October and November. (Beginning cash should be Indicated with a minus sign If It Is a negative amount.) October November September and $14.760 in October . Payments of August 31 accounts payable and accrued expenses in September were estimated to be $24,320 Required: 0-1. Prepare a cash budget for October and November (Beginning cash should be Indicated with a minus sign If It Is a negative amount.) October November Beginning cash Cash receipts: August 31 accounts receivable September sales October sales November sales Total cash receipts Canh disbursements September purchases October purchases November purchases September operating expenses October operating expenses November operating expenses Total cash disbursements Ending cash 4-2 what are the prospects for this company its sales growth continues at a similar rate! O Prospects are not good O Prospects are good b-1. Assume now that PrimeTime Sportswear is a mature firm, and that the September-November data represent a seasonal peak in business. Prepare a cash budget for December, January, and February, assuming that the income statements for January and February are the same as December's. (Beginning cash should be Indicated with a minus sign If It Is a negative amount.) December January February Beginning cash Cash receipts October sales November sales December sales January sales Total cash receipts Caah disbursements: November purchases December purchases January purchases February purchases November operating expenses December operating expenses January operating expenses February operating expenses Total cash disbursements Ending cash Drone Next