Schedule of Expected Cash Collections from Customers P iCredit Sales TOTAL CASH COLLECTIONS The marketing agency have quoted i-Optometry a monthly cost amount (see cost of project) that will need to be paid at the end of every month. In addition to this monthly amount, the marketing agency also requires a commission of 2% from the months' total sales revenue. Note that this amount is in addition to any existing marketing expenses i-Optometry had to pay in 2019. Based on the estimates provided by the marketing agency, Olivia believes more customers will come to visit the store. Olivia estimates that the increased traffic will increase the sales of sunglasses by 10%, and with more people turning up, there will be an increase in eye-tests performed by 30%. Given that most clients who get eye-tests will also buy some form of prescription glasses, prescription glasses are expected to increase 20% in terms of sales volume. The increases are based on the corresponding month in 2019. e.g. Jan 2021 increases in sales is based on Jan 2019 amounts, Feb 2021 increases in sales is based on Feb 2019 amounts etc. Given the increase in demand for optometrists, the business will need to increase the initial cost of the specialized optometry equipment by 50%. The new specialized optometry equipment will need to be purchased in April 2021 and will be paid over 12-equal monthly instalments starting in June 2021. All other non-current assets will remain the same as 2019 amounts. To finance the purchase of equipment, the business will take out a loan to cover 50% of the cost of acquiring the equipment. The loan is with a local bank and the funds will be deposited into the business bank account on 1st May 2021. The loan is on an interest only arrangement with an interest rate of 12% per annum payable on a quarterly basis. To meet the increase in demand, the business will hire 2 additional optometrists at the start of Jan 2021. The business will also need to hire 2 new sales assistants for the month of June and July 2021 to account for higher the usual volume of customers who are taking advantage of their private health insurance rollover. All other staffing costs will remain the same. All other fixed costs will remain the same as 2019 amounts. After the ist year of the new project, in 2022 the service and sales volume is expected to increase by 10% compared to the corresponding month in 2021.FactSheet - Data on 2019 Financial Year Jan-2019 Feb-2019 Mar-2019 Apr-2019 May-2019 Jun-2019 Jul-2019 Aug-2019 Sep-2019 Oct-2019 Nov-2019 Dec-2019 Sales Volume - Sunglassses 183 192 167 178 168 208 202 168 134 164 179 192 Sales Volume - Prescription glasses 79 84 89 76 87 110 103 83 75 69 91 98 Service Volume - No. of Clients 72 76 81 69 79 100 94 75 68 63 83 89 Selling Price - Sunglasses 200.00 Cost Price - Sunglasses 60.00 Selling Price - Prescription glasses $ 150.00 Cost Price - Prescription glasses 80.00 Service Revenue $ 75.00 Number of Sale Assistants: 2 Wage Rate per Employee per Month $ 4,000 Number of Office Staff: 1 Wage Rate per Employee per Month $ 4,500 Number of Optometrists 2 Wage Rate per Employee per Month $ 6,500he business typically will have 80% of their sales as cash, with the remaining 20% on credit. Of the credit sales, 70% is collected in the month of sale, 20% is collected one maonth after he sale, and 10% is collected two months after the sale