Question 3: (9 points) BI, B3 SABA Enterprises needs a cash budget for the year 2021. The following information are available: 1. The cash balance on January 1 is $4,000 2. The expected sales for the year 2021 as follow: Statement Quarter Sales 320,000 300,000 350,000 300,000 3. The expected purchases for the year 2021: Statement Quarter Cash purchases 280,000 300.000 310,000 280,000 4. General expenses budgeted for February are $20,000, and $10,000 of the month of June. 5. Operating supplies will be paid quarterly S3000. 6. The company will pay $5,000 in cash for office furniture in March 7. The company receives an interest revenue for its investment semiannually, amount of $5,000. 8. The company maintain a minimum ending cash balance of $10,000 and can borrow from the bank all loans are repaid after 30 days with an interest of $100. Prepare a cash budget for SABA Enterprises. Answer Statement Quarter