Problem 2 Golden Sun Company had sales of Tk.95,000 in December. It expects sales of Tk.70,000 in January. Sales levels should increase by 15 percent per month over the next two months. Cash sales will be 35 percent of total sales. All credit sales for any month will be collected in the following month. Other cash income is expected to be 5 percent of monthly sales. Wages and salaries will be constant at Tk.35,000. Rent, utilities, and operating expenses are constant at Tk.4,000, Tk.3,000, and Tk.8,000 per month, respectively. Supplies purchased will be 50 percent of monthly sales. The firm has Tk. 10,000 in its bank account. The target cash balance per month is Tk.15,000. Prepare a three-month cash budget for Golden Sun (January through March).