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E 6 7 Gross Margin 8 Commission 9 Ending Inventory 10 11 12 13 14 15 Month Inputs TRIM Function 2 YOUR TURN: Based on this paragraph enter these assumptions, and then apply the Percent Style on the Home menu: The company has a 50% gross margin on its products, and pays a 10% commission on sales. The company wishes to maintain 60% of the following month's sales as the ending inventory. These amounts are expected to be manual inputs, but you can utilize an Excel formula if you wish. 0 Pal Collections Supporting Schedules ER Collections 11 12 Minimum Cash Balance 13 Interest Rate 14 15 Month 16 17 18 19 20 Operating Expenses Inputs SUBSTITUTE Function Minimum Cash Balance Assumption 2 YOUR TURN: Based on this paragraph enter these assumptions and then apply the appropriate number formats: The company wishes to maintain a minimum cash balance of $20,000 at all times. The company has access to a line of credit that incurs an Interest rate of 12% per year. Per Month Supporting Schedules MID Function Cash Budget Operating Budget Collections 15 Month 16 Month 17 Month 2 18 Month 3 19 20 Operating Expenses 21 22 23 24 Res 1 CONCATENATE/RIGHT Function UPPER Function LOWE YOUR TURN: Based on this paragraph enter these assumptions and apply the appropriate number formats. Wally's Widgets expects to collect 25% of sales in the month the sale occurs, 50% the following month, and 25% the second month after the sale has occurred Wally's Widgets will pay for 60% of inventory purchases in the month the purchase occurs, and 40% the following month. Per Month 1 Budget Assumptions First Month's Sales in Units 3. Unit Sales Growth Per Month 4 Unit Sales Price 5 DOWN LEFT/FIND Functions First Months Sales in Units Assumption YOUR TURN Based on this paragraph enter these assumptions: Wally's Widgets is starting operations as of January 1. The company sells a single product and expects first month's sales to be 10,000 units, with sales increasing by 250 units per month thereafter. The sales price for the product is $12.00 Inputs Supporting Schedules Operang Baget Cangas