Question 4 Sean Connors has been running a business for a number of years. He provides the following information on 1/6/2017 and asks you to predict what overdraft facilities he will require over the next 5 months 116,000 Trade receivables on 1/6/2017 (Made up of April sales 62,000 And May sales 54,000) Trade payables on 1/6/2017 Bank overdraft on 1/6/2017 46,000 18,000 He expects his sales, purchases and expenses for the next five months to be: June July 55,000 75,000 94,000 88,000 ?90,000 Aug Sept Oct Sales Purchases 42,000 52,000 64,00055,000 60,000 Expenses 12,000 9,000 11,000 13,000 14,000 Expenses are paid as they are incurred All sales are on credit and are paid for two months after the month of sale All purchases are on credit and are paid for one month after the month of purchase. (a) Prepare a cash budget showing Sean's budgeted bank figure on a monthly basis for the period June to October inclusive. (90 marks) (b) Indicate what information Sean can get from the prepared cash budget. (10 marks)