Sheldon Cooper, CFO of Penny Blossom, is planning to request a line of credit from the bank. He has estimated the following sales forecasts for the firm for parts of $20$XX: May $20$XX$$180,000$June$180,000$July$360,000$August$540,000$September$720,000$October$360,000$November$360,000$December$90,000$ Collection estimates obtained from the credit and collection department are as follows: collections within the month of sale $=10\%,$ collections the month following the sale $=75\%,$ collections the second month following the sale $=15\%.$ Payments for labor and raw materials are typically made during the month following the one in which these costs have been incurred. Total labor and raw materials costs are estimated as follows: May $20$XX$$90,000$June$90,000$July$126,000$August$882,000$September$306,000$October$234,000$November$162,000$December$90,000$ General and administrative salaries will amount to approximately $$27,000$ a month; lease payments under long$-$term lease contracts will be $$9,000$ a month; depreciation charges will be $$36,000$ a month; miscellaneous expenses will be $$2,700$ a month; income tax payments of $$63,000$ will be due in both September and December; and a progress payment of $$180,000$ on a new design studio must be paid in October. Cash on hand on July $1,$ will amount to $$132,000,$ and a minimum cash balance of $$90,000$ will be maintained throughout the cash budget period. Please forecast the monthly cash flow for the last $6$ months of $20$XX in your excel and provide a cash budgeting, and answer a couple questions associated with cash budgeting.