The following information was projected for Neo Traders for the three months period 1 January to 31 March:

Projections:

Details	January	February	March
Total sales	300 000	350 000	400 000
Total purchases	180 000	150 000	180 000
Rent income	10 000
Salaries	23 000

Additional information:

Cash sales amount to 20% of total sales.

The balance is on credit and credit sales are collected as follows:

20% in the month of the sale

50% one month after the sale

30% two months after the sale

All purchases are on credit and they are paid in full one month after the purchases.

The owner increased his capital in the business by depositing R75 000 into the bank account of the firm on 1 February.

A printing machine costing R50 000 will be purchased for cash on 15 March.

Rent income will increase to R144 000 per annum as from 1 March.

Salaries are paid on 25^th of each month and will increase by 5% in March.

On 1 January, the bank account will have a favourable balance of R50 000.

Required:

Prepare the Cash Budget Statement, to establish the cash position of the business at the end of January, February and March.