Problem $14-22($Static$)$ Cash budget$-$part $2$ LO $14-4,14-7$

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: $60\%$ in the month after the sale is made and $35\%$ 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

$70\%$

$30\%$

PrimeTime Sportswear's income statement budget for each of the next four months, newly revised to reflect the success of the firm, follows:

$\backslash$table$[[,$July,August,September,October$],[$Sales$,$$$84,000,$$$108,000,$$$136,000,$$$118,000$