The following data relates to the operations of the Picanuy Corporation

Current Assets as of December 31:
Cash	$6,000
Accounts Receivable	$36,000
Inventory	$9,800
Buildings and Equipment, etc.	$110,885
Accounts Payable	$32,550
Capital Stock	$100,000
Retained Earnings	$30,135

a.) The gross margin is 30% of sales, cost of goods is 70% of sales

b.) Actual and budgeted sales are as follows:

December (Actual)	$60,000
January	$70,000
Februrary	$80,000
March	$85,000
April	$55,000

c.) Sales are 40% for cash and 60% on credit. Credit sales are collected in the month following sale. The accounts receivable at December 31 are the result of December credit sales.

d.) Each month's ending inventory should equal 20% of the following month's budgeted cost of goods sold

e.) One-quarter of a month's inventory purchases is paid for in the month of purchase; the other three-quarters is paid for in the following month. The accounts payable at December 31 are the result of December purchases of inventory.

f.) Monthly expense are as follows: $12,000 in rent, $1,800 in other expenses (excluding Depreciation), 8% of sales, Assume that these expenses are paid monthly. Depreciation is $2,400 for the quarter and includes depreciation on new assets acquired during the quarter.

g.) Equipment will acquired for cash; $3,000 in January and $8,000 in February.

h.) Management would like to maintain a minimum cash balance of $5,000 at the end of each month. The company borrows loan increments of $1,000 at the beginning of each month, up to a total loan balance of $50,000. The interest rate on these loans is 1% per month, and we'll assume it's not compounded,

1.) Complete the following schedule:

	Schedule of Expected Cash
	January	February	March	Quarter
Cash Sales:	$28,000	-	-	-
Credit Sales:	$36,000	-	-	-
Total Collections:	$64,000	-	-	-