Required Information [The following information applles to the questions displayed below.] Sound Investments, Incorporated, is a large retaller of stereo equipment. The controller is about to prepare the budget for the first quarter of 202. Past experlence has indicated that 75 percent of the store's sales are cash sales. The collection experience for the sales on account is as follows: 85 percent during month of sale 10 percent during month following sale 5 percent uncollectible The total sales for December 20x1 are expected to be $192,000. The controller feels that sales in January 202 could range from $102,000 to $162,000. Required: I. Demonstrate how financlal planning can be used to project cash recelpts in January of 202 for three different levels of January sales. Use the following columnar format