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. (6 Marks) 17. You are the CFO of 349 Corp and, it's time to complete a cash flow forecast. Prepare monthly cash flow forecast for 349 Corp. for the 3 months: April through June. For each month, show ending A/R and A/P balances. For each month, show the beginning and ending cash balances. O Cash Operating Expenses/Payments Monthly Sales Depreciation 100 200 February March April May June 5,000 3,000 5,000 6,000 7,500 4,000 2,000 3,000 1,000 2,000 300 400 300 1. 25% of sales are cash, 30% are collected 1 month later, 40% are collected 2 months later and the balance 3 months later. 2. 10% of cash operating expenses are paid via check in the first month, 50% via credit card, 30% are paid 1 month later via check and the balance 3 months later via check. 3. Credit card balances are paid one month after the expenses are incurred. 4. Estimated income taxes are $100 per quarter, payable 45 days after quarter end. 5. The cash balance at the end of February, 2013 was $2,000. 6. On March 22, it was discovered the bank had not recorded a deposit for $1,200 made the previous December. The bank corrected the mistake the same day the error was detected. 7. 3% interest is paid on surplus cash balances. If the average cash balance as defined by the average of beginning and ending cash balances is a deficit, interest is charged at a rate of 10% annual interest. Interest charges are paid in the following month