Rawal Estates Limited advertises and sells residential property on behalf of its customers. The company has been in business for only a short time and is preparing a cash budget for the first four months of 2017. Expected sales of residential properties are as follows. 2016 2017 2017 2017 2017 Month Dec Jan Feb Mar Apr Units sold 10 10 15 26 30 L=77 The average price of each property is PKR5000, 000 and Rawal Estates Limited charges a fee of X% (X represents last digit of your registration number) of the value of each property sold. Rawal Estates Limited receives halt% of commission in the month of sale and the remaining half in the month after sale. The company has nine employees who are paid on a monthly basis. The average salary per employee is PKR35, 000 per year. If more than 20 properties are sold in a given month, each employee is paid in that month a bonus of PKR 14000 for each additional property sold. Variable expenses are incurred at the rate of 0.5% of the value of each property sold and these expenses are paid in the month of sale. Fixed overheads of PKR4, 300 per month are paid in the month in which they arise. Rawal Estates Limited pays interest every three months on a loan of PKR 2000,000 at a rate of 6% per year. The last interest payment in each year is paid in December. Rent of PKR42, 000 will fall due at the end of May. An outstanding tax liability of PKR95, 800 is due to be paid in April. In the same month Rawal Estates Limited intends to dispose of surplus vehicles, with a net book value of PKR15, 000, for PKR 20,000. The cash balance at the start of January 2017 is expected to be a deficit of PKR 40,000. Required: 1. What are the business objectives and purposes of budgeting the organizations have in mind while doing the budgeting exercise. 2. Prepare a monthly cash budget for the FOUR months from 1 Jan to 30 April 2017 Rawal Estates Limited