Sithabiso's Wraps is an all-organic restaurant located near State University. It is managed by Eunice Ndlovu, and Eunice is preparing her first-quarter cash budget for 2018. It is important to her because of the variation in volume caused by the return of the university students. Help Eunice complete her cash budget in the template provided next First note the following forecast information and assumptions for Sithabiso's Wraps Eunice has budgeted her revenues, cost of sales, and operating expenses based on forecasts for the months of January, February, and She expects to collect 80% of revenues in the month they are generated (current month) and the remaining 20% the next month as accounts receivable (AR) based on her aging of accounts receivable To She expects to collect in January $30,000 from accounts receivable from December She expects to pay 60% of the cost of sales in the month they are incurred (current month) and * the remaining 40% the next month as accounts payable (AP) She expects to pay in January $19,000 from accounts payable for cost of sales from December . She expects to pay 70% of her operating expenses in the month they are incurred (current month) Op and the remaining 30% the next month as accounts payable (AP) She expects to pay n January $21,000 from accounts payabl Janu for operating expenses from December She expects to pay 100% of her nonoperating expenses in the month they are incurred She has rent expense of $4,000 per month. She pays an insurance premium of S6,000 in the first month of every quarter, and this premium is expensed immediately in the same month Eunice expects to receive $300 in dividends from a stock investment. To She expects to purchase a new range in February and, the cost is expected to be $7,000 Her beginning cash balance in January will be S5.000 Ending cash balance for one month is the beginning cash balance of the next month Pr She requires a minimum cash balance of $5,000 at all times (i.e. for emergencies). If the budgeted Mi cash available in a given month is below S5,000, Eunice will borrow $5,000 short-term loan in that month from a local bank (no matter what amount the shortage is). This loan will be paid next month along with the 10% monthly interest (i.e. $5,500 will be paid.) Sh Lo Given Data: Revenues Cost of Sales Operating Expenses Nonoperating Expenses Rent Expense January 60,000 21,000 28,000 Februarv 132,000 46,200 36,000 March 96,000 33,600 32,000 4,000 4,000 4,000 Insurance Premium:s 6,000 Current Month Second Month Schedule of Receipts (AR) AR from December (Received in January) Schedule of Payments (AP) Cost of Sales Operating Expenses Nonoperating Expenses Cost of Sales from December (Paid in January) Operating Expenses from December (Paid in January) 80% 20% 30,000 60% 70% 1 00% 40% 30% 19,000 21,000