Rona Sdn Bhd is a retail company. For planning and control purposes the company intends to prepare a budget for half of the year 2024 which is from January to March 2024. The following is the information provided. (i) Sales Month Sales (RM) December 2023 (Actual Sales) 30'000 January 2024 35'000 February 2024 42'000 March 2024 April 2024 25'000 25'000 May 2024 40'000 June 2024 45'000 (ii) Expenses Expenses Salary Transportation Advertisements Depreciation Other Expenses Total RM3750 10% from Sales RM3000 RM1000 5% from Sales Company policy stipulates that the ending inventory value must be 20% of the following month's sales. 60% of the purchase is paid in the month of purchase and the balance is paid the following month. In March 2024 the company plans to buy a machine costing RM35,000 in cash. The company sets a minimum cash account balance of RM20,000. Loans can be made at a rate of 8% per year. L The account balance on 31 December 2022 is as follows: Debit Credit Cash 34'500 Accounts Receivable 31'000 Initial Inventory 4900 Factory and Machine 107'050 Accounts Payable 8680 Capital 95'000 Net Profit Loss 63'770 From the above information we are required to prepare a budget for Syarikat Rona Sdn Bhd: 1. Sales budget (5 marks) II. Purchase budget (10 marks) III. Budget (5 marks) IV. Cash budget (15 marks) V. Statement of income