PrimeTime Sportswear is a custom mprinter hat be an operations six months ago. Sales have e ceeded managements most o tmistc projectors. Salesaro made on account and collected as follows: 48% n ne mom, ater the sale is made and 43% in re second month ater sale Merchandise purchases and operating expenses are paid as follows: In the month anng which the merchandse is purchased or the cost In the subsequent month incurred PrimeTime Sportswears income statement budget for each of the next four months, newly revised to refect the success of the firm, foilows: September October November December 42 200 54.300 67.800 59300 631014,320 20,760 $22.480 Cost of goods sold Beginning inventory Cost of goods available for sale Lesk: Ending inventor Cost of goods sold Gross proft Operating expenses Operating income 5 910 3,940 6,220 6,730 Cash on hand August 31 is estimated to be $40,370. Collections of August 31 accounts recelivable were estimated to be $19,800 in September and $15,450 in October. Payments of August 31 accounts payable and accrued expenses in September were estimated to be $23,690 Required a-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 recejpts: August 31 accounts receivable September sales October sales November sales Total cash receipts Cash disbursements September purchases October purchases November purchases September operating expenses October operating expenses November operating expenses Total cash disbursements Ending cash b-1. Assume now that Prime Time 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 eash should be Indicated with a minus sign if it is a negative amount.) December January Febr Beginning cash Cash recepts: October sales November sales December sales January sales Total cash receipts Cash disbursements November purchases December purchases January purchases February purchases November operating expenses January operaing expenses February operating expenses Total cash disbursements Ending cash