Sir Daniela Health Products has lotstores. The firm wants to expand by two more stores and needs a bank loan to do this. Me. Hewitt the banker will finance construction in the firm can present an acceptable three month financial plan for January through March Folowing are actual and forecasted sales figures 5400,000 130.000 February 5590,000 Dec 55.60,000 April forecast 550.000 600,000 of the firm's sales 30 percent are for cash and the remaining 70 percent are on credit of credit sales, 20 percent are paid in the month after sale and 80 percent are paid in the second month after the sale Materials cost 30 percent of sales and are purchased and recewed each month in an amount suficient to cover the current month's expected sales Materials are paid for in the month they are received Labour expense is 50 percent of sales and is paid in the month of sales Selling and administrative expense is 4 percent of sales and is also paid in the month of sales Overhead is $31000 in cash per month Amortization expense is $11.300 per month Taxes of 59 200 will be paid in January and dividends of $2.000 will be paid in March Cash at the beginning of January is $105,000, and the minimum desired cash balance is 5101000 a. Prepare a schedule of monthly cash receipts for January February and March in Dantels Health Products Cost Receipts schedule Sale Credit sales Calle Collections in the anth after credit sal Collection to conths December 5 5 5 SULMO a. Prepare a schedule of monthly cash receipts for January, February and March Hover $ i Daniels Health Products Cash Receipts Schedule December Tonary 3 $ February $ March or 5 Sales Credit sales Cash sales Collections in the month after credit sales Collections to months after credit sales Total cash receipts b. Prepare a schedule of monthly cash payments for January February and March Dalth Products Cash Royant Schedule yet for purchase Laboons Selling and constrative evne Dudend b. Prepare a schedule of monthly cash payments for January, February and March Jim Daniels Health Products Cash Payments Schedule January February Payments for purchases Labour expense Selling and administrative expense Overhead Taxes Dividends March $ Total cash payments S c. Prepare a schedule of monthly cash budget with borrowings and repayments for January, February and March (Do mt c. Prepare a schedule of monthly cash budget with borrowings and repayments for January February and March (Do not leave any empty spaces; input o o wherever it is required. Negative answers and amounts to be deducted should be indicated by a minus sign) Si Daniels Health Products Cash Budget January 5 March February $ Total cash receipts Total cath payments Het cash flow Beginning cash balance Cumulative cash balance Monthly loan or repayment) Cumulative loan balance Inding cash balance