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Vaccines International (VI) manufactures vaccines for governments around the world. In the past few years, the company has been struggling to survive. It was Involved in the development of a vaccine for the Ebola virus but did not get any orders because their competitors had beaten them to the market. VI's price was also much higher than their competitors. With its brand image suffering and problems with current manufacturing processes, VI is considering how they will market their new innovative COVID-19 vaccine to governments around the world. VI's board of directors decided to employ a new operations director to solve the production problems and have appointed a renowned marketing company to help take the new vaccine to market. James Anderson was employed as operations director at the beginning of May 2021 and he has discovered that the current manufacturing system is outdated, requiring a complete overhaul of the manufacturing plant to turn around the fortunes of the company. Being a medical product that is distributed globally and administered to billions of people, quality is of cardinal importance to customers. Latest technological advancements have seen the development of mixing and packing machines capable of operating at very low temperatures and equipped with artificial intelligence to monitor and adjust the manufacturing process to meet the exacting standards required in the vaccine industry. Machines of this nature cost E500 million and can produce up to 2 million vaccine doses per month. One such machine is available and will be installed by the end of June 2021. The company has chosen to lease these machines over a 5-year period at a cost of E 10,400,000 per month. The lease payments commence in the month of July 2021. Current demand in the marketplace indicates that a price of 25 per dose is achievable. The existing staff are highly trained and capable of operating these new machines after further training costing 75,000 in the month of July 2021. Payment for this training is to be made in the month Of delivery of the training. Once installed, the new machines will require ongoing set-up and maintenance costs of E550,000 per month which is outsourced to a specialist maintenance company. All VI employees are full-time employed on salaries and are included in the manufacturing overhead of E300,000 per month. These monthly costs are payable in the month of production. Production takes place in the month prior to the month of sale. Material costs, including packaging, amount to 5.20 per dose and is purchased one month prior to production and paid for one month after purchase. Variable costs for delivery to clients are E45,500 per batch of 50,000 doses and are paid one month after the month of sale and delivery. The bank account for the project is expected to have a balance of at the beginning of July 2021. Production will be ramped up monthly during 2021 to serve their customer countries as follows: July August September October From September onwards, production is expected to remain at 1 doses per month for the remaining life of the lease of the machine. Customers pay one month after the month of sale. Required: Prepare the cash budget for the COVID-19 vaccine project for the third quarter (July-September) of 2021. (16 Marks) Assuming that the cash balance IS insufficient to fund the proJect start-up working capital and that, by August there is a negative balance in the closing balance, what actions could Vaccines International take to remedy the situation? Identify three different actions that could see the cash balance for August turn positive. (6 marks)