Problem 4-25 Complete cash budget [LO4-2] Jayden's Carryout Stores has eight locations. The firm wishes to expand by two more stores and needs a bank loan to do this, Mrs. Wison, the banker, will finance construction if the firm can present an acceptable three-month financial plan for January through March. The following are actual and forecast sales figures: Of the fitms sales,35 percent are fot cash afy the remaining 65 percent are on credit. Of credit cales, 30 percent are paid in the thonth after sale ond 70 percent ate paid in the second month after the sale Materias cost 40 percent of sales and are purchased and receved eath month in on amount sufficient to coverthe following month's expected soles. Maferiats are paid for in the inonth after they are received Labor expense is 30 peicent of sates and is paid for in the month of sales. Selling and administrative expense is 15 percent qfesales and is paid in the manth of cales Overiead expense is $33,000 in cash per month Depreciation expense is $1,000 per month, Taxes of $9000 wirbee pald in Jamury, and dividends of $7,000 wilf be paid in March. Cash ot the beginning of January is $100.000, and the mincinum desired cash balance is $95,000 . Prepare a schedule of monthly cash payments for January. February, and March. Note: Input all amounts as positive. Leave no cells blank be certain to enter 0 wherever requ c. Prepare a monthly cash budget with borrowings and repayments for January, February, and March. Note: Negative amounts should be indicated by a minus sign. Assume the January beginning loan balance is blank be certain to enter 0 wherever required