this is a for a final and needs to be on neatly and done excel please.

(will upvote if done properly)

months, starting April 1, 2023. You accept this responsibility with enthusiasm. You are anxious to impress your new manager and the president of the parent company (Allteq Solutions) who has a very high regard for you. To commence your new role, you have assembled the following pertinent information: Note: The company desires a minimum ending cash balance each month of $12,000. The SPDs are sold to retailers for $30 each and they are flying off the shelves. Recent forecasted sales in units are provided below: The increased sales volume before and during May is due to Mother's Day with SPD being a favorite. Ending inventories are supposed to be equal to 90% of the next month's sales in units. The cost of each SPD is \$14. Purchases are paid for in the following manner: 50% in the month of the purchase and the remaining 50% paid in the monthly following the purchase. All sales to the distributors are made on credit terms with no discount (for now) and payable withing 15 days. The SPD division has determined that only 25% of a month's sales are collected by the end of the month in which the sale occurred. An additional 50% is collected in the month following the sale and the remaining 25% is collected in the second month following the sale. Bad debts have been negligible, supporting the favorable credit terms. Below is a display of the SPD division monthly selling and administrative expenses: Selling and administrative expenses are all paid during the month, in cash, with the exception of depreciation (of course) and insurance is pre-paid for the duration of the policy. Due to a violation of an existing copyright, lawyers for Allteq Solutions have negotiated a one-time infringement penalty to be expensed and paid during May for $350,000cash. The newly formed SPD division contributes to the corporate dividend at a rate of $175,000 each quarter, payable in the first month of following quarter. SPD's balance sheet at the end of the first quarter is shown below: Balance Sheet as of March 31, 2023 An agreement with East Rivers Bank allows you to borrow in increments of $1,000 at the beginning of each month, up to a total loan amount of $350,000. The interest rate on these loans is 7% annually (pretty high considering market rates), but the interest is not compounded, meaning this is simple interest only. At quarter end, SPD would pay East Rivers Bank all of the accumulated interest on the loan and as much of the balance of the loan as soon as possible (include $1,000 increments) while retaining the minimum $12,000 cash balance. Hint: use this Excel formula to determine the amount needed to borrow: IF (excess/deficit