QUESTION 3 10Marks As the Finance Controller of Uniliver Ghana. Ltd., you are to prepare a cash budget for the last quarter of 2022 as a way of managing the company's working capital or the cash component of it. The following information is available: a) Sales for the last six months of the year, July to December is forecasted as follows: July August September October November December cm 320 420 550 690 730 600 b) Company's history shows that sales are on credit and there is no bad debt. Of the credit sales, 60% are collected in the month of sales, 30% are collected one month afterwards and the remaining 10% collected in the following month. c) The company sells all that it produces each month. The cost of raw materials equals 40% of each month's sales. Of raw materials purchased, 65% are paid for in the month of purchase. The remaining 35% are paid in the following month. d) Wages total 60m per month and are paid for in the month incurred. e) Operating expenses per month totalled 120m. f) Old equipment will be sold in October 4 for 15m. g) On October 10, new equipment will be purchased for 80m. h) Rent of 300m for the period is due payable in December, 2022 i) The company readjusted and agreed to maintain a minimum cash balance of 30m from the end of September, 2022. j) The cash balance on September 1 amounted to $10.5m. i) You are required to prepare a cash budget for ABC Co. Ltd covering the last quarter October to December 2022. (Use any approach that you familiar with but show workings and comment appropriately) (10 marks)