Silk Ltd will commence trading in June 2023 with Share Capital of 50,000. The company will spend 60,000 on equipment. They have arranged a loan of 120,000 with interest at 10% p.a. over five years. Repayments of capital and interest are 2,433 each month. The loan interest for the period included in the repayments is 2,367. Sales are expected to be as follows: June 120,000 : July 120,000 : August 150,000. 40% of sales are for cash and attract a discount of 5%. The remainder of sales is on credit terms and collected 1 month later. Opening inventory of 60,000 is paid for in June, further inventory is purchased at 45% of sales each month. Suppliers are paid one month in arrears. Closing inventory should also be 60,000 Wages are forecasted to be 11,000 per month, payable in the month they are incurred. Overheads, which include 2,000 depreciation expense, are forecast to be 13,500 per month and paid in the month they are incurred. Rent is 18,000 per year payable half in June and half in Dec. Equipment will be depreciated at 10% of cost per year. Required Forecast monthly cash flow statement for the three months to 31st August 2023 . Silk Ltd will commence trading in June 2023 with Share Capital of 50,000. The company will spend 60,000 on equipment. They have arranged a loan of 120,000 with interest at 10% p.a. over five years. Repayments of capital and interest are 2,433 each month. The loan interest for the period included in the repayments is 2,367. Sales are expected to be as follows: June 120,000 : July 120,000 : August 150,000. 40% of sales are for cash and attract a discount of 5%. The remainder of sales is on credit terms and collected 1 month later. Opening inventory of 60,000 is paid for in June, further inventory is purchased at 45% of sales each month. Suppliers are paid one month in arrears. Closing inventory should also be 60,000 Wages are forecasted to be 11,000 per month, payable in the month they are incurred. Overheads, which include 2,000 depreciation expense, are forecast to be 13,500 per month and paid in the month they are incurred. Rent is 18,000 per year payable half in June and half in Dec. Equipment will be depreciated at 10% of cost per year. Required Forecast monthly cash flow statement for the three months to 31st August 2023