The finance manager wants to prepare a cash budget for January-June 2023. The finance manager has received the following information from the marketing and operations managers: The sales in November 2022 were $300,000. The sales in December 2022 are expected to be $315,000. The sales are expected to grow by 5% each month. The sales will be collected as follows: a. 20% immediately in the same month b. 45% in the next month c. Balance is collected after two months Labor and Raw Material is 80% of the sales of the same month. Labor and Raw Material is paid in the same month. Wages and Salaries are $20,000 each month and paid in the same month. Depreciation expense is $10,000 each month. The company pays taxes of $50,000 in the month of April. The company is expected to incur a purchase of machinery worth $25,000 in May 2023. It is expected to pay for machinery as follows: 50% to be paid immediately in the same month and the remaining 50% to be paid in the following month. The company pays rent of $20,000 monthly. The company has an outstanding loan (taken a couple of years ago). The company pays interest of $25,000 in March and an another $25,000 in September each year. Questions: [30 points] [30 points] [5 points] [20 points] [15 points] 1. Determine the total cash inflows for November 2022-June 2023. Show your work in Excel. 2. Determine the total cash outflows for November 2022-June 2023. Show your work in Excel. 3. Determine the expected change in cash for January 2023-June 2023. Show your work in Excel. 4. Assume that the beginning balance in January 2023 is $25,000 and the target cash balance each month is $10,000. Determine the excess cash or loan needed for January 2023-June 2023. Show your work in Excel. 5. Describe in your own words some of the short-term borrowing options that the company may adopt. You will find the different borrowing options in our class handout. Please write your answer in another tab on the same excel file, no need to upload another Word Document file.