The following table shows projected direct and indirect costs of a project. You are required to build a cash flow statement and diagram to see how much overdraft is required to successfully complete the project. The delay between billing and receipt of payment is 1 month. The owner retains 12% of all validated progress payment claims until one-half of the contract value ($150,000) has been built and approved as an incentive for the contractor to complete the contract. Retainage will be deducted from the progress payments on the first one-half of the contract value and eventually paid to the contractor on satisfactory completion of the contract. The progress payments will be billed at the end of the month. The owner will transfer the billed amount minus any retention to the contractor's account a month later 1 $27,000 $6,000 Diredens Indirect cost Subo 2 $76.000 $6.000 Morth 4 $22.000 Samo 3 $91,000 $6.000 Makup 25%) Tot ailed! Retention (Retainage witteld (128) Payment received Total cost to the Total amount biled to date Total paid to date Overdraf endomen Interest (12% pa) on overdrat balance Total amount franca 300,000 250,000 Cost Value Overdrat Profile Cum Payments 200,000 150,000 100,000 Cumulative Dollar ($) 50,000 0 2 -50,000 -100,000 -150,000 -200,000 Time (months) The following table shows projected direct and indirect costs of a project. You are required to build a cash flow statement and diagram to see how much overdraft is required to successfully complete the project. The delay between billing and receipt of payment is 1 month. The owner retains 12% of all validated progress payment claims until one-half of the contract value ($150,000) has been built and approved as an incentive for the contractor to complete the contract. Retainage will be deducted from the progress payments on the first one-half of the contract value and eventually paid to the contractor on satisfactory completion of the contract. The progress payments will be billed at the end of the month. The owner will transfer the billed amount minus any retention to the contractor's account a month later 1 $27,000 $6,000 Diredens Indirect cost Subo 2 $76.000 $6.000 Morth 4 $22.000 Samo 3 $91,000 $6.000 Makup 25%) Tot ailed! Retention (Retainage witteld (128) Payment received Total cost to the Total amount biled to date Total paid to date Overdraf endomen Interest (12% pa) on overdrat balance Total amount franca 300,000 250,000 Cost Value Overdrat Profile Cum Payments 200,000 150,000 100,000 Cumulative Dollar ($) 50,000 0 2 -50,000 -100,000 -150,000 -200,000 Time (months)