Sister soles has been in business for one year. They first opened their doors January 1st 2022. They want to project a cash flow statement for the first two Quarters of 2023. Calculate the projected cash flow statement for Quarters 1 and 2. What is the beginning cash total for Quarter 3? Projected Financial Information for Q1 and Q2 of 2023 1. The cash balance on January 1, 2023 is $415,600 2. Sister Soles expects to sell $125,000 in sole inserts each quarter 3. Sister Soles will spend $15,000 each quarter on materials and supplies 4. They will spend $8,000 in labor costs each quarter 5. Sister Soles will purchase a new piece of machinery costing $25,000 in Quarter 2 6. Long-term principal payments are as follows Q1: $2,000, Q2: $3,000 7. Interest payments are as follows Q1: $2,000, Q2: $4,000 2 Sister Soles 3 Date: 4 Cash Flow Statement 5 Q1 Projected Q2 Projected Q31 6 7 Cash Flow from Operating Activities 8 9 Cash at the Beginnning of Quarter (+) 10 Sole Insert Sales (+) (+) (-) (-) (+) (+) (-) (-) 11 (+) (-) (-) Materials and Supplies 12 Labor Costs 13 14 Cash From Operating Activities $0.00 $0.00 15 4 5 Q1 Projected Q2 Projected Q3 Projected Q4 Projected Total Projected 6 7 8 9 $0.00 10 $0.00 (+) (+) (-) (-) (+) (+) (-) (-) (+) (+) (- (-). (-) (+) (+) ( (-) (-) 11 $0.00 12 $0.00 13 14 $0.00 $0.00 $0.00 $0.00 $0.00 D 16 Cash Flow From Investing Activities 17 18 Capital Expenditures (New Equipment) (-) (-) (-) 19 20 Cash Used for Investing Activities $0.00 $0.00 21 22 Cash Flow From Financing Activities 23 24 Long-term Principal Payments Interest Payments (-) (-) (-) (-) (-) (-) 25 26 27 28 Cash Used for Financing Activites $0.00 $0.00 29 30 31 $0.00 $0.00 Ending Projected Cash Balance per Quarter (Operating + Investing + Financing Activities) 32 16 17 18 (-) () (-) (-) $0.00 19 20 $0.00 $0.00 $0.000 $0.00 $0.00 - Total should be negative 21 22 23 24 (-) (-) (-) (-) H (-) (-) (-) (-) 25 (-) 26 27 28 $0.00 $0.00 $0.00 $0.00 $0.00 -Total should be negative 29 30 31 $0.00 $0.00 $0.00 $0.00 $0.00 - Total could be negative or 32 33 34