Question 4 Consider the budgeted income statement for D & Co for the month ended 30 June 2019 below RM RM Sales 290,000 Less: Cost of Goods Sold Inventory, May 31 50 000. WWWww. HA Purchages 192,000 Available for gale 242,000 Inventory, June 30 40 000 202,000 Gross profit 88 000. Less: Operating expenses Wages 36 000. Utilities 5,000 Advertising 10 000. Depreciation 1,000 Office expenses 4,000 Insurance and property taxes 3,000 50 000 Operating profit 10 000Additional information: . The cash balance, May 31, 2019, is RM15,000. . Sales proceeds are collected as follows: 80% the month of sale; 10% the second month; and 10% the third month. " Accounts receivable are RM44,000 on May 31, 2019, consisting of RM20,000 from April sales and RM24,000 from May sales. * Accounts payable on May 31, 2019, are RM145,000. . D & Co pay 25% of purchases during the month of purchase and the remainder during the following month. All operating expenses requiring cash are paid during the month of recognition, except that insurance and property taxes are paid annually in December for the forthcoming year. Required: (a) Prepare a cash budget for June 2019. Confine your analysis to the given data. Ignore income taxes. (16 marks) (b) Discuss FOUR (4) importance of a cash budget in an organisation. (9 marks) [Total: 15 Marka]