Task (C) Cash Budget (38 points) Andy Egnab, the Owner of Korab Nutrition, has operated a retail outlet for fitness and supplements. The firm has one location and over the past year had expanded quite significantly into wholesales and fitness coaching for customers. Revenues were up by 20% over the past year and net profits had increased by about ten percent. However ever since the company got involved into wholesales and fitness coaching, their cash account had fluctuated significantly during the year resulting in one overdraft notices from the bank. At their weekly meeting, Andy presents the sales projections for the first quarter 2022 as shown in the table below. Coaching's were made on a cash basis, but wholesale orders carried credit terms ranging up to 45 days. As a result, typically, 50% of their monthly credit sales were collected in the same month, with another 40% in the following month, and the rest in 45 days. On average, 1% of each month's credit sale is deemed to be bad debts. Sales in November and December 2021 amounted to $85,000 and $97,000 respectively. Purchases typically amounted to 75% of the following months projected sales and are paid in the month of purchase. The company employs ten influencers and paid out salaries of $12,000 permanent per month. Debt Payments amounted to $2,500 per month, and other expenses are estimated to $400 per month. The Depreciation on Non-Current Assets is calculated to be $9,000 for the coming year. The firm had already approved an internet advertising on google for $6,500, the payment for which would have to be made in February 2022. The accountant estimates that annual taxes for the coming year would amount to $22,000 and would be paid on a quarterly basis. Table January Estimated monthly Sales for 2022 $130,000 February $120,000 March $110,000 April $100,000 Instruction: Prepare a Cash Balance Worksheet, showing in detail monthly, a) Cash collections (15 points), b) Cash disbursements (17 points), c) Net Cash (3 points) as well as d) the Ending Net Flow Cash Balances, if Ending Cash Balance for December 2021 is ($5,000) (3 points)