Project 1 Cash Budget Overview: In corporate finance, students need to be able to prepare a cash budget and understand financial statements Purpose: The purpose for this project is to prepare cash budgets. Requirements: Complete the attached FIN101 Cash Budget Excel spreadsheet using the information below. Make sure you include the cumulative loan balance and ending cash balance from the net cash flow. Some of the columns are already completed to help you get started. Cash in: Sales (in 000's) JAN | FEB | MAR | APR | MAY | JUN | JUL | AUG | SEP | OCT | NOV | DEC $200 $230$150 $210 $220 $170$160150$180 $210 $220 $210 No Cash Sales ACCTS REC: 50% of sales from the previous month ACCTS REC: 50% of sales from the second previous month (go back 2 months) Cash out: MATERIALS AND SUPPLES: 70% of monthly sales PAYMENTS: 100% OF Materials and Supplies paid 1st previous month following sale SALARIES AND OVERHEAD: $40,000 per month INTEREST: $12,000 PER YEAR-$1,000 per month DIVIDENDS: $12,000 PER YEAR- $1,000 per month TAXES: $1,200 per quarter CAPITAL EXPENDITURE none this year BEGINNING CASH BALANCE: $10,000 must maintain $10,000 per month in cash STARTING LOAN BALANCE: $100,000