QUESTION 2 [20 MARKS] You are presented with the following flow forecasted financial activity data for your organisation for the period November 2019 to June 2020. It has been extracted from functional flow forecasts that have already been prepared. Sales Purchases Wages Overheads Dividends declared Capital expenditure Nov Dec Jan Feb Mar Apr May June 2019 2019 2020 2020 2020 2020 2020 2020 P P P P P P P P 80,000 100,000 110,000 | 130,000 140,000 150,000 160,000 180,000 40,000 60,000 80,000 90,000 110,000 130,000 140,000 150,000 10,000 12,000 16,000 20,000 24,000 28,000 32,000 36,000 10,000 10,000 15,000 15,000 15,000 20,000 20,000 20,000 20,000 30,000 40,000 You are also told the following. 1. Sales are 40% cash 60% credit. Credit sales are paid two months after the month of sale. 2. Purchases are paid the month following purchase. 3. 75% of wages are paid in the current month and 25% the following month. 4. Overheads are paid the month after they are incurred. 5. Dividends are paid three months after they are declared. 6. Capital expenditure is paid two months after it is incurred. 7. The opening cash balance is P15,000. a. Prepare a cash budget for the six-month period January to June 2020. (20 marks) 40,000