QUESTION TWO The Management of safe venture has requested for cash position of the organization for the first quarter of 2019 from you, the financial Analyst. There was no cash balance as at December, 2018. 1. The total annual Investment income in 2018 was GH 24,000,000. There is expectation that this figure will increase by 10% every month in 2019. 2. The breakdown of the 2019 amount of goods sold is as follows: 60% of the sales amount was made on credit. The customers are expected to pay their debt two months after the goods have been sold. Cash Customers constitute the remaining 40%. Sales made every month since 2018 was GH 2million, but this was increased to 110% in January, 2019 and maintained until May, 2019. 3. Total amount of salaries and wages for the 2018 year were GH 16million. 25% was for housing allowance. Salaries and wages is 50% higher in 2019 than that paid in 2018. Salaries and wages accrue evenly throughout 2019 year. The payment of housing allowance will start from the month of April, 2019 4. Plant and machinery costing GH 8million and GH 4.8million were purchased in the month of December, 2018 and February, 2019. Non-financial assets bought are paid for in FOUR equal installments, starting from the month in which the asset was bought. Depreciation is to be charged at 20% annually on straight line basis. Required Prepare cash budget for the first quarter of the 2019 fiscal year, stratified into monthly distribution. (Total: 30 marks)