Tasty Cupcake (TC) Luis and Jos have set up a partnership, baking and selling cupcakes directly to consumers and supermarkets. They called the business Tasty Cupcake (TC). They used their savings of $3000 as starting capital. The partners need an overdraft agreement from the local bank. The bank manager asked for a cash-flow forecast. Luis has forecasted the following sales and cost figures for the first six months of operation, beginning in January Sales Average selling price of one cupcake: $5. Sales of cupcakes: 1300 cupcakes in January and 1700 cupcakes per month from February 70% of customers who purchase cupcakes will pay in cash. The supermarkets will buy the remaining 30% of cupcakes on credit and pay one month later. . Costs Rent: $6500, payable at the start of each quarter. Labour costs: $750 per month. Raw materials: 50 % of sales revenue per month, paid in cash. Overheads: $400 per month, paid in cash. . (a) State two features of a partnership. (6) Prepare a monthly cash-flow forecast for TC for the first six months of operation. (c) Calculate TC's forecasted net profit at the end of June (show all your working)